Robinhood Chain, an Ethereum Layer-2 network based on Arbitrum Orbit, launched on July 1, 2026. The platform offers Stock Tokens, which are ERC-20 assets backed 1:1 by underlying securities. Users can access over 190 different equities and ETFs, depending on their jurisdiction, though these tokens do not provide voting rights or legal ownership.
Trading volume for Stock Tokens reached $9.7 billion over the last 30 days, with one seven-day period accounting for $4.33 billion. Notably, 74% of trading occurs outside of standard NYSE hours. Popular assets include Nvidia, GameStop, Apple, and SpaceX, with several tokens seeing daily volumes between $500,000 and $1 million.
By late August 2026, the platform hit a single-day record of $85.1 million in volume. Total Value Locked (TVL) grew from a few million at launch to nearly $1 billion by September, while the stablecoin market cap on the chain also surpassed $1 billion.
Despite the high volume, the platform currently relies on a small user base, with only 407 active users accounting for the $4.33 billion weekly volume. This concentration poses a risk, as the platform is not available to US persons, limiting its reach in the largest retail equity market.
