FinanceRobinhood Chain has experienced a remarkable fivefold increase in the value of its real-world assets, reaching approximately $70 million, as tokenized stocks begin to trade at larger volumes.
The platform designed for tokenizing equities has tripled in size since mid-July, with around a dozen tokenized stocks now each achieving daily trading volumes of over $500,000.
By Shaurya Malwa|Edited by Aoyon Ashraf Jul 25, 2026, 10:00 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on
Vlad Tenev, Chairman & CEO of Robinhood. (Michael Santiago/Getty Images)Highlights- The value of tokenized real-world assets on Robinhood Chain has surged to approximately $70 million, marking a fivefold increase in less than two weeks as tokenized stocks gain traction.
- A dozen tokenized stocks, including GameStop, Nvidia, and SpaceX, are now each recording daily trading volumes of at least $500,000, with some exceeding $1 million.
- Despite the rise in tokenized equities and a tripling of total value locked to around $312 million, the trading of stablecoins and memecoins continues to dominate activity on the Robinhood Chain.
Initially, when Robinhood Chain was launched, its trading was primarily driven by speculative memecoins rather than its intended purpose of tokenization.
However, less than two weeks later, there has been a notable shift in momentum.
Currently, real-world assets hold an active market value of about $70 million, according to DefiLlama, which reflects a fivefold increase from the previous low tens of millions, representing just 4% of the network, while memecoins and stablecoins accounted for most activities. The tokenized equities for which the platform was created are finally trading at larger volumes.
A single tokenized GameStop share is generating $26.6 million in daily volume, with Nvidia following at $14 million and SpaceX at $6.4 million. Twelve stocks based on Robinhood are now clearing more than $500,000 daily, with five of them exceeding $1 million.
A dozen tokenized stocks are now trading on Robinhood Chain, led by GameStop. (Shaurya Malwa/CoinDesk)In the early days, the most active market on the chain was CASHCAT, a memecoin linked to Robinhood's former name. The company was initially called "CashCat" before adopting the name Robinhood. The token, which is not affiliated with Robinhood, surged over 1,700% after CEO Vlad Tenev followed its account, but has since dropped and is now down about 75% from its peak, as real equity trades have begun to take precedence.
Total value locked has tripled since mid-July, reaching around $312 million, according to DefiLlama. Robinhood Chain is now processing over $600 million in daily decentralized-exchange volume, making it one of the more active networks in the crypto space.
Robinhood Chain's locked value has more than doubled since mid-July. (Shaurya Malwa/CoinDesk)The number of transactions has also caught attention, with over 138 million recorded in the past 30 days, as per Token Terminal. However, the most traded tokens on the chain remain predominantly memecoins.
According to DEX Screener, the leading tokens on Robinhood Chain's trending list include names like “Hoodrat,” “Vladhood,” and “Swole Doge,” rather than the tokenized equities for which the network was established, which trade on Uniswap but rank lower in volume.
Volumes of Robinhood Chain tokens across DEXs. (DEXScreener)The tokenized stocks are generating around $55 million in daily volume, which is less than one-tenth of the chain's nearly $600 million in total DEX trading, indicating that the rest is largely driven by memecoins.
Stablecoins continue to hold the largest share on the chain, with a combined market value in the hundreds of millions of dollars, while memecoins, like the CASHCAT associated with Robinhood's mascot, remain active and heavily traded.
Criticism arose three weeks ago regarding Robinhood's investment in costly infrastructure that seemed to attract only speculative trading, with little indication that the tokenized-stock business would materialize.
This business is now emerging, illustrated by tens of millions of dollars in real-world assets and a dozen equities trading in substantial volumes. However, it is still relatively small compared to the stablecoin and memecoin segments, and continued growth will be necessary to fulfill Robinhood's original vision for tokenization.
Nevertheless, data suggests that tokenized stock activity is progressing towards the original pitch, as the company aims to onboard millions of its retail customers onto the platform.
Read more: Inside Robinhood’s high-stakes bet to onboard millions of casual users onto decentralized finance
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