Robinhood Tripled The Number Of Women Trading Crypto, According To COO

What Happened: Gretchen Howard, chief operating officer of popular trading platform Robinhood, believes that the platform’s efforts to increase the number of women crypto traders have paid off.

In an interview with Business Insider, Howard said that crypto investments had been stereotyped as a male-dominated space, but Robinhood had enabled more women to trade crypto.

"To me, it feels like, wow, we've enabled these women to trade crypto," said Howard. “[Crypto is] very new, especially to people getting into investing for the first time. And it's also stereotyped as a male-dominated space,” she said.

Why It Matters: After joining Robinhood in 2019, Howard set up a task force to research what women investors wanted.

The results revealed that women wanted to educate themselves further before risking their money on crypto investments.

The team then created more posts that “demystified crypto jargon” and published tips on investing very small amounts of money.

“We ended up tripling the number of women on the platform in the year,” she said.

Robinhood reported a 369% increase over one year in the number of female crypto traders on their platform, and by early 2021, close to 30% of its active customers were women.

Read also: Robinhood Delays IPO After SEC Review Of Its Crypto Business

The trading platform plans to go public via an IPO later this month, pushing back its original listing date after the SEC began to ask questions about its crypto business in particular.

Last week, the company’s S1 filing revealed that 34% of its cryptocurrency transaction-based revenue came from Dogecoin DOGE/USD.

Price Action: At press time, Bitcoin BTC/USD, the leading cryptocurrency, was trading at $33,727, up 0.26% overnight.

Dogecoin was down by 0.36% during the same period, trading at $0.2124 at the time of writing.