Robinhood reports July assets under custody $94.5B, up 6%

Robinhood reported selected monthly operating data for July. Net cumulative funded accounts at the end of July were 23.2M, up approximately 50,000 from June. Monthly active users increased to 11M in July, up approximately 200,000 from June. Assets under custody at the end of July were $94.5B, up 6% from June. Net deposits were $1.4B in July, translating to a 19% annualized growth rate relative to June AUC. Over the last twelve months, net deposits were $16.8B, translating to an annual growth rate of 23% relative to July 2022 AUC. Trading volumes in July were higher for equities and crypto and lower for options compared to June 2023. Equity notional trading volumes were $69.2B. Options contracts traded were 106.1M. Crypto notional trading volumes were $3.4B. Margin balances at the end of July were $3.4B, up 3% from June. Cash sweep balances at the end of July were $12.7B, up $0.8B from the end of June.