Robinhood’s management notes July ADVs across equities, options, and predictions remained near the Q2 range with healthy engagement, while crypto ADVs were slightly slower early in the month. July take rates were broadly in line with the Q2 average, reinforcing a stable quarter. They also cited July net deposits tracking toward about $4 billion, underscoring resilience amid seasonality and macro shifts.
Generated by Dafinchi AI. Source-grounded AI analysis, not investment advice.
What did management say about July ADVs and take-rate update?
Management said that for July, ADVs across equities, options, and predictions markets are “in the similar area of Q2,” with “pretty healthy engagement” across those asset classes. 1
They also said crypto ADVs are “probably a little bit slower than what we saw in Q2” and that it’s early in the month, but they are seeing it “to start.” 1
They further reinforced that July average daily volumes are “very similar to the Q2 average” (and tied this to continued strong net deposits and customer health). 2
On take rates, management stated that for July, take rates are in a similar area to what they saw for the Q average and that investors should use this as a starting point. 1
They did not provide a single explicit take-rate percentage in the excerpt, but they emphasized that July take rates were broadly in line with the Q average, not signalling a major step-change. 1
Management cautioned that take rates are an “output metric” with many inputs, and they broke down the key drivers by asset class:
They concluded with the high-level summary: July is “off to a similar ZIP code for take rates” and for most asset classes remains around the Q2 average. 1
In the same discussion, management said July average daily volumes (for equities, options, and event contracts) are in a similar area vs. “a record Q2,” and that July net deposits are tracking toward about $4 billion (not including deposits into the Trump accounts). 3
They also said that net deposits can fluctuate due to macro conditions, product launch timing, seasonality (summer slower), and promotions, and that they generally don’t read month-to-month fluctuations as a fundamental issue. 4
These points weren’t “take rate” numbers, but they provide management’s framing that July engagement/volumes are tracking the Q2 baseline, while deposit/engagement can vary from month to month. 342
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