Robinhood Markets reported a rapid accumulation of deposits in its nascent banking operation, with CEO Vlad Tenev announcing on Tuesday that the unit now holds in excess of $1.5 billion from nearly 100,000 funded customers.
In a social post, Tenev described the team's progress succinctly: "The team is cooking," and he added that deposits have increased by approximately 50% during the referenced time frame.
For context provided by the company, at the end of January it disclosed that over 20,000 customers were making deposits into the service, representing about $300 million in total. Robinhood Banking began operations in November 2025, making the recent deposit milestones notable for a product still in its early months.
Market reaction was apparent on Tuesday as shares of Robinhood rose 6%. Company stock gains that day were supported by broader market strength and a rebound in Bitcoin prices, according to the report.
The company-provided comparison of account counts and deposit totals highlights a substantial increase in both customer adoption and deposits since January, alongside the CEO's description of a roughly 50% deposit increase over the specified period. The interplay between the company announcement and wider market forces was reflected in the share-price movement reported for Tuesday.
Observers should note that the banking product is newly launched and that the company itself supplied the timeline and figures used in its statements. The disclosure of prior January figures and the November 2025 launch date frame the progress as concentrated within a short operating window.
- Summary: Robinhood's banking division has surpassed $1.5 billion in deposits from nearly 100,000 funded customers, with management citing roughly 50% deposit growth during the referenced period.
- Market effect: Robinhood shares rose 6% on Tuesday, with the move attributed in part to wider market advances and a rebound in Bitcoin.