Free-trading pioneer Robinhood reached 9.5 million cryptocurrency customers by the end of Q1 2021, according to its Apr. 8 blog post.
This represents a whopping 458 percent quarter-over-quarter increase:
This year in particular has been a big one. In the first quarter of 2021, 9.5 million customers traded crypto on Robinhood Crypto, compared to 1.7 million in the fourth quarter of 2020.
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The company's cryptocurrency team has also grown three-fold since the beginning of 2021.
Robinhood allows its customers to trade Bitcoin, Ethereum, Litecoin as well as several other altcoins.
In late March, it filed with the U.S. Securities and Exchange Commission to go public after suffering severe backlash for limiting trading during the GameStop saga in early February.
Dan Burgin
Alex Dovbnya
Denys Serhiichuk
Gamza Khanzadaev