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Robinhood is known for its meme-stock and crypto traders. Its CEO says users are embracing passive investing too.

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Robinhood CEO Vlad Tenev says its users are embracing passive investing.

Passive investing in broad index funds has been in vogue for years .

Robinhood became synonymous with speculative day traders during the COVID-19 pandemic.

The fintech company's net revenue grew by 58% last year to nearly $3 billion , helping it swing from a pre-tax loss of about $500 million in 2023 to a nearly $1 billion profit in 2024 .