Robinhood’s newly introduced blockchain has rapidly climbed into the top tier of decentralized trading networks, reflecting strong initial interest in its tokenized asset strategy, according to Bernstein.
In a research report released Monday, Bernstein said Robinhood Chain’s early performance has been impressive, with the network quickly becoming one of the most active platforms for decentralized exchange trading. The firm said the launch supports Robinhood’s broader ambition to build a larger ecosystem around tokenized financial products.
Since going live on July 1, Robinhood Chain has processed around $3.1 billion in DEX trading volume within its first week, ranking among the five largest networks by decentralized exchange activity. The blockchain has also attracted more than 65,000 users, who collectively hold about $13 million in tokenized equities and approximately $300 million in stablecoins.
Bernstein analysts, led by Gautam Chhugani, said the early adoption demonstrates the increasing connection between tokenized real-world assets and decentralized finance. They noted that the industry continues to develop new approaches for bringing regulated financial assets onto blockchain networks.
Robinhood officially launched the public mainnet of Robinhood Chain on July 1. The network is an Ethereum Layer 2 blockchain built on Arbitrum technology and is designed to support tokenized real-world assets, DeFi applications, and on-chain financial services.
The blockchain serves as the foundation for Robinhood’s tokenized stock offering, allowing users to access 24/7 trading, self-custody capabilities, and blockchain-based financial tools such as lending and collateral applications. It also enables integration with decentralized applications and liquidity providers.
Bernstein said the network expands Robinhood’s crypto strategy by bringing together tokenized stocks, decentralized lending, and perpetual futures markets within an Ethereum scaling ecosystem.
While early activity has been boosted by memecoin speculation, Bernstein expects Robinhood’s long-term focus to move toward tokenized real-world assets such as equities and commodities, along with perpetual trading products.
The firm also pointed to Robinhood’s partnerships with key blockchain companies, including Uniswap, Morpho, Lighter, Chainlink, and BitGo, as important components for improving liquidity and expanding tokenized asset adoption.
The launch comes during a period of rapid growth for real-world asset tokenization. Bernstein said the sector has surpassed $51 billion in total value, rising about 50% year to date, while tokenized equities have grown roughly 170% this year to reach around $1.9 billion.
Bernstein continues to rate Robinhood stock as outperform and has assigned a $130 price target. Shares were down about 0.6% in early Monday trading, changing hands near $111.35.
