Catenaa, Tuesday, May 06, 2025-Robinhood (HOOD) revealed in its latest US Securities and Exchange Commission (SEC) filing that it has partnered with two major crypto market makers: B2C2 and Wintermute.
The filing, dated May 1, marks the first time B2C2 is mentioned as a market maker for Robinhood. According to the report, Robinhood generated more than $141 billion in crypto trading volumes during 2024.
The brokerage has been expanding its crypto business, which now plays an increasingly significant role in its offerings.
Wintermute accounted for 11% of Robinhood’s transaction-based revenues in Q1 2025, while B2C2 contributed 12%, matching the revenue share of traditional market maker Citadel Securities.
Robinhood only lists market makers that account for 10% or more of its transaction volumes, signaling potential additional partnerships. In previous filings, Wintermute was the sole crypto market maker listed.
B2C2, founded in 2015 and headquartered in London, and Wintermute, founded in 2017 by Evgeny Gaevoy, are both leading institutional crypto trading firms that provide liquidity to Robinhood’s crypto trading platform.
