Robinhood Chain tokenized stocks climb fivefold ahead of earnings
Tokenized stock activity on Robinhood Chain rose to about $70 million as trading in GameStop, Nvidia and SpaceX tokens picked up.
By Dev Ramirez · Crypto Correspondent
· 3 min read
Robinhood Chain tokenized stocks have risen roughly fivefold in less than two weeks to about $70 million, according to Tyler Warner in Decrypt’s Morning Minute newsletter. For retail investors watching Robinhood, the timing matters: the jump comes just before Robinhood is set to report earnings this week.
Tokenized real-world assets, or RWAs, are blockchain-based versions of assets such as stock shares that can trade onchain. Warner wrote that Robinhood Chain’s early activity after its July 1 launch was dominated by memecoins, but recent data shows tokenized stocks taking a larger role on the network.
A dozen tokenized stocks are now each doing more than $500,000 in daily volume, according to Warner. Five are above $1 million in daily volume. GameStop leads the group at $26.6 million a day, followed by Nvidia at $14 million and SpaceX at $6.4 million.
What are tokenized stocks on Robinhood Chain?
Tokenized stocks are versions of equity-linked assets that trade on a blockchain rather than through a traditional stock exchange interface. The basic idea is to put stock exposure into a token format so it can move through crypto-style infrastructure.
The broader Robinhood Chain has also grown quickly, according to a Dune dashboard cited by Warner. Total value locked, or TVL, has roughly tripled since mid-July to about $312 million. TVL is the value of assets deposited into a blockchain’s apps and protocols, a rough gauge of how much capital users have placed on the network.
The chain is also processing more than $600 million in daily decentralized exchange volume and has recorded more than 138 million transactions over 30 days, according to the same Dune data cited in the newsletter. Warner wrote that those figures put Robinhood Chain among the most active crypto networks.
On the tokenization side, more than 100 assets have been tokenized, Warner wrote. Total RWA value is nearing $25 million, while daily trading volume has climbed from about $5 million a day to $60 million a day, according to the newsletter.
Why Robinhood earnings put the chain in focus
Robinhood’s upcoming earnings call gives investors a near-term chance to hear how the company frames the chain’s growth. Warner wrote that CEO Vlad Tenev has been one of the loudest promoters of Robinhood Chain, including through a “Robinhood Summer is here” post and public attention around the chain’s memecoin activity.
Warner described tokenization as the strategic argument behind the chain for shareholders. He also wrote that the market question is whether HOOD stock already reflects the recent growth in tokenized-equity activity, while making clear that was his own view.
The broader crypto market was also positive in Warner’s morning rundown. Bitcoin was around $65,000, Ether was around $1,960, and Solana was around $76.50, while oil was down 7% at $83 and stock futures were higher, according to the newsletter.
This story draws on original reporting from Decrypt.
