Cryptocurrency Trading Accounts for Just 1% of Webull's Q2 Record Revenue of $198M

Cryptocurrency Trading Accounts for Just 1% of Webull's Q2 Record Revenue of $198M

Webull achieved a milestone with $198 million in revenue during the second quarter, though digital currency trading contributed a modest $2.25 million to overall earnings.

On Wednesday, Webull disclosed that digital asset trading represented $2.25 million of its historic $198 million in second-quarter 2026 revenue, accounting for just slightly more than 1% of the platform's total earnings.

The digital trading platform and online brokerage firm's Wednesday earnings announcement showed that revenue during this time frame increased 51% compared to the same period in the previous year.

Meanwhile, trading in equities and options produced $112 million in quarterly revenue, representing approximately 56% of the overall $198 million figure.

During Wednesday's earnings call, Webull president and director Anthony Michael Denier stated that the firm was currently engaged in a phased rollout of deposit and withdrawal features for cryptocurrency.

Rival online brokerage platform Robinhood similarly announced record quarterly performance on July 30, though its revenue from crypto transactions declined 38% to $100 million, down from approximately $160 million during the corresponding quarter of the prior year.

Webull has been contacted by Cointelegraph for additional information regarding its cryptocurrency trading revenue in comparison to earlier quarters.

The platform's revenue for the quarter came in marginally higher than the Wall Street consensus estimate of $194.5 million, based on analyst projections gathered by Yahoo Finance. Shares of Webull climbed 8.9% during Wednesday's trading session and continued their upward momentum with an increase of nearly 15% in pre-market trading on Thursday, trading at $9.98 per share at 10:37 am UTC.