Robinhood Chain’s tokenized real-world assets have surged nearly fivefold in about two weeks, pushing their value past $70 million, while the network’s total value locked tripled to $312 million. The Arbitrum-based Ethereum layer-2 network, launched on public mainnet in early July, was originally criticized for lacking a working tokenized-stock business at launch.
Twelve tokenized equities are now generating meaningful trading activity, led by GameStop at $26.6 million in daily volume, Nvidia at $14 million, and SpaceX at $6.4 million. Still, tokenized stocks remain a minority slice of overall activity: they account for roughly 10% of the chain’s $600 million in total decentralized-exchange volume, with memecoins and stablecoins continuing to dominate.
That imbalance highlights the network’s awkward transition. Robinhood Chain’s most-traded tokens by volume still include memecoins built around company branding, some of which posted triple-digit percentage swings before giving back most of their gains. The rise in tokenized-equity activity suggests the infrastructure Robinhood built for serious real-world-asset trading is finally seeing use — but sustaining that shift away from speculative trading remains the network’s central challenge.
For investors watching the broader tokenization trend, the numbers are a useful gauge of whether retail appetite for on-chain stock exposure is real or transient. A tripling of TVL in two weeks is a meaningful signal of early adoption, though the scale remains small next to Robinhood’s traditional brokerage business, and volume concentrated in a handful of high-profile names suggests the market is still testing which assets belong on-chain.
