Robinhood completes $200M acquisition of Bitstamp crypto exchange

Robinhood has officially closed its $200 million all-cash acquisition of Bitstamp, one of the world’s oldest cryptocurrency exchanges.

The all-cash deal, announced on June 2, brings Bitstamp’s global operations under Robinhood’s umbrella. Bitstamp holds over 50 active licenses across the EU, UK, U.S., and Asia and serves more than 500,000 funded retail customers and about 5,000 institutional clients.

The exchange reported $95 million in net revenue over the 12 months ending April 30, with institutional trading making up the majority of volume. Robinhood said the integration will be “EBITDA-neutral” in the short term, meaning it’s not expected to impact earnings before interest, taxes, and depreciation.

However, it’s expected to become EBITDA-accretive within a year, adding to Robinhood’s earnings once the two businesses are fully integrated. During the remainder of 2025, the company expects related operating expenses of $65 million, which will be driven by integration efforts and core business costs.

“The acquisition of Bitstamp is a major step in growing our crypto business,” said Johann Kerbrat, general manager of Robinhood Crypto. “Bitstamp’s long-standing global exchange has shown resilience through market cycles and built one of the strongest reputations across retail and institutional crypto investors.”

Founded in 2011, Bitstamp offers institutional services including lending, staking, and white-label crypto infrastructure. Robinhood plans to integrate Bitstamp’s technology with its Smart Order Routing and Legend trading systems, laying the groundwork for broader institutional access.

“Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity.”

— JB Graftieaux, Bitstamp CEO

The deal follows Robinhood’s recent $179 million agreement to acquire Canadian crypto platform WonderFi. The acquisition will increase its regulated footprint in North America and is expected to close in the second half of the year.

With $927 million in cryptocurrency revenue in the first quarter of 2025 alone, Robinhood is establishing itself as a major force in the institutional and international digital asset markets. The company is also developing blockchain-based systems to tokenize U.S. securities for European investors, considering Ethereum (ETH), Solana (SOL), and Arbitrum (ARB) as possible platforms.