Report: Robinhood’s Waitlist for Crypto Wallet Has More Than 1M Customers

Clients are lining up to get Robinhood wallet.

The waitlist for Robinhood’s crypto wallet is now more than one million customers long, Robinhood CEO Vlad Tenev told at CNBC’s Disruptor 50 summit on Thursday.

Robinhood announced last month it was planning to roll out a crypto wallet in early 2022 that would allow customers to trade, send and receive cryptocurrencies, as well as transfer them to hardware wallets.

Tenev said:

“Crypto is certainly here to stay as an asset class and the ease of use and the global nature of it, I think, has made it attractive to lots of people.”

Commissions from crypto trading accounted for 41% of Robinhood’s revenue in its second quarter, up from just 17% in the first quarter. Overall, Robinhood has said that more than 60% of its customer traded cryptocurrencies in the second quarter.

Robinhood is slated to report its third-quarter earnings report on Tuesday, October 26.