Webull Q2 earnings reveal minor crypto contribution amid record growth

The company’s quarterly revenue surged 51% year-over-year, driven largely by a 66% increase in trading-related income. Equity and options activity accounted for $112 million, or 56% of the total, with equity notional volume climbing 73% to $279 billion. President Anthony Denier attributed this performance to active trader functions and the recent overhaul of FINRA’s day trading margin requirements, which removed the traditional $25,000 minimum equity threshold.

Despite the modest crypto contribution, Webull is moving to improve its digital asset ecosystem. The firm has begun a gradual rollout of crypto deposit and withdrawal features, allowing users to move holdings to external wallets. While Denier noted that the "clouds are starting to part" for the crypto business, the company has yet to provide a timeline for the full feature release or specific revenue targets. Webull also recently secured authorization under the EU’s Markets in Crypto Assets regulation, signaling a push to expand its custody services into the Netherlands and broader European markets by late 2026.