Robinhood and eToro Shares Sink for Eighth Day as Bitcoin Price Crashes to $63,500

Thursday, 05/02/2026 | 21:26 GMT by Damian Chmiel
  • The shares of retail trading platforms face extended losing streaks as the cryptocurrency downturn weighs on the revenue outlook.
  • Both companies derive a significant portion of their income from digital asset trading.
Green-themed Robinhood ads on the tall building

Two publicly traded retail trading platforms heavily reliant on cryptocurrency trading revenue saw their stock prices continue a sharp descent today (Thursday), with Robinhood and eToro each extending multi-session losing streaks as Bitcoin crashed to its lowest level since October 2024.

HOOD closed at $75.67 on Thursday, marking its eighth consecutive day of losses and representing a decline of nearly 10% for the session. The stock hit its lowest level since June 2025, with the extended selloff erasing gains accumulated during the late-2025 crypto market rally.

ETOR fared similarly, dropping approximately 7% Thursday to close just below $26.54 in its seventh straight losing session. The Israeli-founded trading platform, which debuted on Nasdaq in May 2025 at $69, has now shed more than 60% of its value since its public market launch.

Bitcoin Plunges in Sharpest Single-Day Drop in Over a Year

The stock declines tracked Bitcoin's dramatic collapse Thursday, with the cryptocurrency falling to $63,500 during the session, marking its lowest point since October 2024. The selloff accelerated throughout the day, with Bitcoin ultimately dropping more than 13% in one of its sharpest single-day percentage declines in at least 15 months.

The broader crypto market capitalization fell 6.4% in 24 hours to $2.49 trillion, with 92 of the top 100 digital assets posting losses. Bitcoin has now dropped 44% from its October peak, erasing more than $800 billion in market value.

Source: Tradingview.com
Source: Tradingview.com

The selloff extended to Coinbase, the largest U.S. cryptocurrency exchange, which fell more than 13% Thursday to close around $152.44, testing levels not seen since April 2025. Coinbase marked its eighth consecutive session in the red, directly tracking the cryptocurrency market's steep decline.

Source: Tradingview.com
Source: Tradingview.com

Revenue Concentration Creates Vulnerability

The three platforms share a common weakness: substantial dependence on cryptocurrency trading for revenue generation. eToro's crypto reliance proved particularly acute in recent quarters, with digital assets contributing 91% of total revenue in Q2 2025 when crypto markets surged.

For the full year 2024, cryptoassets accounted for almost 40% of eToro's $931 million in commission revenue, though the company's crypto dependency fluctuates dramatically with market conditions.

Arkadiusz Jóźwiak
Arkadiusz Jóźwiak

"For many investors, shares of companies like eToro and Robinhood are indirect exposure to cryptocurrencies on the stock market, and the strong dependence of their financial results on the fate of cryptocurrencies means that we are witnessing situations like this,” Arkadiusz Jóźwiak, analyst and crypto educator from Comparic.pl, explained to FinanceMagnates.com.

Robinhood showed somewhat more diversification but still faces significant crypto exposure. Cryptocurrency revenue reached $268 million in Q3 2025, representing approximately 20% of the company's $1.27 billion total revenue, with a 339% year-over-year increase.

The platform's chief investment officer recently warned that retail net buying activity has slowed following a late October surge, raising concerns about sustained trading volumes.

Bull Market Boom Now Reversing

Both platforms experienced explosive crypto revenue growth during 2024's digital asset rally. eToro's commission revenue jumped 48% year-over-year in 2024, with over 25% of that growth concentrated in Q4 alone as Bitcoin surged. Net profit skyrocketed to $192 million from just $15.3 million in 2023, driven primarily by crypto trading activity.

Robinhood's Q4 2024 cryptocurrency revenue of $358 million represented a 700% year-over-year increase, surpassing options trading revenue for the first time in company history. For full-year 2024, Robinhood generated $2.95 billion in total revenue, up 58%, with crypto contributing 21%.

“When Bitcoin rises, everyone is happy and company shares also rise, but when it falls, sentiment automatically changes. It is not certain that if Bitcoin continues to fall, Robinhood and eToro will not follow it further down,” Jóźwiak added.

Two publicly traded retail trading platforms heavily reliant on cryptocurrency trading revenue saw their stock prices continue a sharp descent today (Thursday), with Robinhood and eToro each extending multi-session losing streaks as Bitcoin crashed to its lowest level since October 2024.

HOOD closed at $75.67 on Thursday, marking its eighth consecutive day of losses and representing a decline of nearly 10% for the session. The stock hit its lowest level since June 2025, with the extended selloff erasing gains accumulated during the late-2025 crypto market rally.

ETOR fared similarly, dropping approximately 7% Thursday to close just below $26.54 in its seventh straight losing session. The Israeli-founded trading platform, which debuted on Nasdaq in May 2025 at $69, has now shed more than 60% of its value since its public market launch.

Bitcoin Plunges in Sharpest Single-Day Drop in Over a Year

The stock declines tracked Bitcoin's dramatic collapse Thursday, with the cryptocurrency falling to $63,500 during the session, marking its lowest point since October 2024. The selloff accelerated throughout the day, with Bitcoin ultimately dropping more than 13% in one of its sharpest single-day percentage declines in at least 15 months.

The broader crypto market capitalization fell 6.4% in 24 hours to $2.49 trillion, with 92 of the top 100 digital assets posting losses. Bitcoin has now dropped 44% from its October peak, erasing more than $800 billion in market value.

Source: Tradingview.com
Source: Tradingview.com

The selloff extended to Coinbase, the largest U.S. cryptocurrency exchange, which fell more than 13% Thursday to close around $152.44, testing levels not seen since April 2025. Coinbase marked its eighth consecutive session in the red, directly tracking the cryptocurrency market's steep decline.

Source: Tradingview.com
Source: Tradingview.com

Revenue Concentration Creates Vulnerability

The three platforms share a common weakness: substantial dependence on cryptocurrency trading for revenue generation. eToro's crypto reliance proved particularly acute in recent quarters, with digital assets contributing 91% of total revenue in Q2 2025 when crypto markets surged.

For the full year 2024, cryptoassets accounted for almost 40% of eToro's $931 million in commission revenue, though the company's crypto dependency fluctuates dramatically with market conditions.

Arkadiusz Jóźwiak
Arkadiusz Jóźwiak

"For many investors, shares of companies like eToro and Robinhood are indirect exposure to cryptocurrencies on the stock market, and the strong dependence of their financial results on the fate of cryptocurrencies means that we are witnessing situations like this,” Arkadiusz Jóźwiak, analyst and crypto educator from Comparic.pl, explained to FinanceMagnates.com.

Robinhood showed somewhat more diversification but still faces significant crypto exposure. Cryptocurrency revenue reached $268 million in Q3 2025, representing approximately 20% of the company's $1.27 billion total revenue, with a 339% year-over-year increase.

The platform's chief investment officer recently warned that retail net buying activity has slowed following a late October surge, raising concerns about sustained trading volumes.

Bull Market Boom Now Reversing

Both platforms experienced explosive crypto revenue growth during 2024's digital asset rally. eToro's commission revenue jumped 48% year-over-year in 2024, with over 25% of that growth concentrated in Q4 alone as Bitcoin surged. Net profit skyrocketed to $192 million from just $15.3 million in 2023, driven primarily by crypto trading activity.

Robinhood's Q4 2024 cryptocurrency revenue of $358 million represented a 700% year-over-year increase, surpassing options trading revenue for the first time in company history. For full-year 2024, Robinhood generated $2.95 billion in total revenue, up 58%, with crypto contributing 21%.

“When Bitcoin rises, everyone is happy and company shares also rise, but when it falls, sentiment automatically changes. It is not certain that if Bitcoin continues to fall, Robinhood and eToro will not follow it further down,” Jóźwiak added.

About the Author: Damian Chmiel
Damian Chmiel
  • 3232 Articles
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About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 3232 Articles
  • 100 Followers

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