Robinhood’s New Wealth Management Business Hits A Billion Dollars In Assets

Robinhood is coming after the wealth management business next. And they’re off to an explosive start.

What’s happening:

• Robinhood's (NASDAQ: HOOD) automated investing platform Robinhood Strategies has surpassed $1B USD in assets under management
  

Why it matters:‍

• Over 180,000 Robinhood users have begun using Robinhood Strategies since it was initially launched
  

Going deeper:‍

• Robinhood Strategies uses a mixture of algorithmic portfolio construction focused on both ETFs and individual stocks as well as human oversight and rebalancing that is done by Robinhood
  
• Robinhood has been rapidly rolling out new product features lately, including notably embracing prediction markets through their new partnership with Kalshi and preparing to launch a fund on the New York Stock Exchange to give retail investors access to private venture backed companies