Although mediators, banks and financial institutions are also working on trading and mediation activities, market makers dominate, including those in encryption.
This is what appears From the latest quarterly report It was submitted by the company to SEC.
Robinhood is the United States of America listed on the stock exchange, so a law is required to submit periodic economic financial reports to the agency that oversees the stock market in the United States.
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Robinhood
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Robinhood Markets is a US financial services company founded in 2013 in Minllo Park, California.
It has been listed on the Nasdaq Stock Exchange since 2021 with the index CabbotAnd recently, its shares recorded an excellent gathering.
The company is mainly famous for the commission -free circulation application, where both traditional assets and encryption can be exchanged.
In the first place, retail investors and speculators, especially young people, may aim for this reason that Crypto has gained traction on this platform.
It happened for the first time on the stock exchange at a price of $ 38, which immediately rose to 85 following the insertion. However, this bubble exploded next month, and by the end of the year, the price has already decreased below the initial price.
During the bear market in 2022/2023, the hood share price fell to less than $ 7, but starting from December 2023, climbing began actually ending only in February this year. The peak of 2025 was just lower than $ 67, which is much higher than the current price, but it is less than the highest level ever four years ago.
Robinhood code makers on Robinhood
In the prolonged separation report that was just submitted to SEC, specifically in observation 1 on page 11, data related to revenue concentrations was reported in the first quarter of 2025.
What appears is that 63 % of the company’s total revenues from January to March this year came from the only market makers. Moreover, in the first quarter of last year, this percentage was 52 %, so the last number also showed a strong increase compared to last year.
The main market makers who achieved revenues to theft in the first quarter of 2025 were Citadel Securities and B2C2 USA, with 12 % each, followed by winter circulation by 11 %.
The encryption market makers are entities or companies that provide liquidity for encrypted currency markets. Their main role is to ensure that buyers and sellers always have specified encryption, facilitate transactions and make the market more efficient.
Technically, they work on stock exchanges by setting up purchase orders and selling continuously for various cryptocurrencies, and they gain the difference between the purchase price and the price of sale with the so -called spread. In fact, they buy at a slightly lower price and sell at a slightly higher price, and thus make small profits in each treatment, but with a large number of automatic transactions.
By constantly setting new purchase and sale orders, they effectively provide liquidity for stock exchanges, in addition, it reduces the gap between the highest purchase price and the lowest sale price.
In this way, other traders, who are called the markets of the market, can implement their requests more quickly and a lesser difference between the expected price and the actual implementation price (so -called slip).
In fact, market makers are necessary to work appropriate for encryption markets.
Robenol revenue
Robinhood does not receive commissions on transactions, so it does not achieve revenue from user commissions.
Instead, the so -called payment flow (PFF), which consists of accurately to direct user orders to market makers, is used instead of directing them directly to the exchanges. Therefore, market makers are the ones who pay a small commission for the platform.
This is why the majority of the company’s revenues come from market makers and not from users, although in reality, in the end, the fees applied to market makers are still paid in one way or another by customers through the spread of prices.
However, Robinhood also generates other types of revenues, such as benefits on customer cash balances, or in marginal lending and securities: in addition, it provides additional paid and discounting services through which small commissions are gained when used.
