Wall Street expects a slowdown in Robinhood’s crypto business in the third quarter

Baiju Bhatt and Vlad Tenev attend Robinhood Markets IPO Listing Day on July 29, 2021 in New York City.

Cindy Ord | Getty Images

Robinhood’s crypto business has become increasingly important to the trading app’s top line, and many on Wall Street are calling for a drop off from the record trading levels in the second quarter.

However, with bitcoin recently notching records and Robinhood’s new digital-currency wallet feature, the trading app might be able to sustain a robust crypto business and drive revenues higher in the current quarter.

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