CoinDesk
Robinhood's (HOOD) Arbitrum-based Ethereum layer-2, Robinhood Chain, processed $3.1 billion in decentralized exchange trading volume over its first seven days post-mainnet, vaulting into the top five chains by DEX activity, according to a Bernstein research note on Monday. More than 65,000 users now hold roughly $13 million in tokenized stocks and $300 million in stablecoins on the network, alongside integrations with Uniswap, Morpho, Lighter, Chainlink and BitGo.
Why it matters
The headline DEX figure is dominated by memecoin trading, but the institutional read is the second number: $313 million in tokenized stocks and stablecoins sitting on a regulated US broker's chain within weeks of launch. Bernstein analysts led by Gautam Chhugani called the early adoption a sign of "growing convergence of tokenized real world assets with the broader DeFi ecosystem," and framed the chain as the rails for Robinhood's broader strategy: 24/7 trading of tokenized equities, self-custody, and onchain use cases such as lending and collateral, plus perpetual futures.
Market impact
The launch lands into a tokenized-RWA sector that has grown to more than $51 billion, up roughly 50% year to date, with tokenized equities expanding about 170% to $1.9 billion in the same window, per Bernstein's data. That context reframes the $13 million in tokenized stock holdings on Robinhood Chain as a beachhead rather than a valuation event. Bernstein carries an outperform rating on HOOD with a $130 price target; the shares slipped 0.6% to $111.35 in early Monday trading, suggesting the market is still digesting whether the onchain pivot translates into the volumes that justify the call.
Frequently asked questions
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What is Robinhood Chain?
Robinhood Chain is a public Ethereum layer-2 built on Arbitrum that Robinhood launched on July 1. It is designed for tokenized real-world assets and decentralized finance, supporting tokenized equities, stablecoins, lending and perpetual futures.
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How much DEX volume has Robinhood Chain processed?
According to Bernstein, Robinhood Chain processed $3.1 billion in decentralized exchange trading volume over its first seven days post-mainnet, ranking it among the top five chains by DEX activity.
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How big is the tokenized-asset footprint on Robinhood Chain?
More than 65,000 users hold roughly $13 million in tokenized stocks and $300 million in stablecoins on the network, per Bernstein's Monday research note.
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What is Bernstein's view on Robinhood stock?
Bernstein has an outperform rating on HOOD with a $130 price target. Shares traded 0.6% lower at $111.35 in early Monday trading after the note was published.
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How does Robinhood Chain fit into the broader tokenized-RWA market?
Bernstein's data puts the tokenized-RWA sector above $51 billion, up roughly 50% year to date, with tokenized equities expanding about 170% to $1.9 billion. Robinhood Chain is positioned as a regulated US broker-led entry into that flow.
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