The acquisition also helps Robinhood expand its customer base to include institutional clients, like banks or hedge funds, that make up a majority of Bitstamp’s exchange volume. Bitstamp has 500,000 retail investors and approximately 5,000 institutional investors, according to a statement from Robinhood.
“Through this strategic combination, we are better positioned to expand our footprint outside of the U.S. and welcome institutional customers to Robinhood,” general manager of Robinhood Crypto, Johann Kerbrat, said in a statement, when the deal was initially announced.
The closure of the Bitstamp deal comes as the crypto market recovers from a historic sell-off this year, prompted by President Donald Trump’s on-again off-again tariff policy. The entire crypto market has managed to claw back some of its previous gains over the past few weeks, reclaiming 36% of its market cap since hitting a yearly low of $2.42 trillion in April.
