It is no surprise to me, that Robinhood has decided to launch its own Crypto-app, afterall, Cryptocurrency's are not only exponentially getting bigger- but also because it would be an easy way to make profit for them; see Long Island Tea stocks.
This move by Robinhood, obviously is not because they actually believe in Cryptocurrency's future, but is to take advantage of the craze behind everything Blockchain, right now. There will be an influx of new money coming in, and the people who never invested in ETFs or stocks but put money into Crypto because they think it will make them a quick buck, will indeed begin using Robinhood over Coinbase. Why? Because unlike Coinbase which made $1,000,000,000 in revenue last year from charging incredibly high fees, Robinhood has zero fees. They make their money off of interest charged on money unspent. And with a wider variety of Crypto-selections, this has opened up the door for people looking to gamble in the Crypto-space to the stock market aswell. Most of the people spending money on Cryptocurrencies are not Wallstreet businessmen, but rather the layman. People who think trading stocks is too complicated, when in reality it's not. So for Robinhood, trading Crypto is in fact a good thing, since regardless of whether Crypto is a boom or bust, they would still keep a lot of the people who comes to decides to stick around.