Robinhood has operated a regulatory-constrained crypto business and has listed only 19 cryptocurrency tokens to date. The company has made no revenue from staking, lending, derivatives or stablecoins.
Bernstein noted, 'But under a potentially new pro-crypto SEC, this looks set to change, and we expect HOOD to be the biggest beneficiary of crypto regulatory tailwinds.'
The trading app can drive higher revenues by listing new tokens and introducing new crypto product lines to target the wider opportunity.
Robinhood's acquisition of Bitstamp should further boost value added crypto services, as exchanges can offer staking, stablecoin access and lending.
#robinhood #crypto-deregulation #securities-exchange-commission #bitstamp-acquisition #bernstein-price-target
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