Robinhood tokenizes nearly 500 US stocks, ETFs on Arbitrum for EU users

Robinhood has expanded its tokenization inaugural connected the Arbitrum blockchain, deploying 80 caller banal tokens successful the past fewer days and bringing the full fig of tokenized assets adjacent to 500.

According to data from Dune Analytics, Robinhood has tokenized 493 assets with a full worth exceeding $8.5 million. Cumulative mint measurement has surpassed $19.3 million, offset by astir $11.5 cardinal successful burning activity, signaling a increasing but actively traded market.

Stocks relationship for astir 70% of each deployed tokens, followed by exchange-traded funds (ETFs) astatine astir 24%, with smaller allocations to commodities, crypto ETFs and US Treasurys.

The latest batch of tokenized assets includes Galaxy (GLXY), Webull (BULL), and Synopsys (SNPS), probe expert Tom Wan said. “Robinhood EU users present person a wider scope of US Stocks, Equities, and ETFs, acknowledgment to Tokenization,” helium noted.

Robinhood has tokenized 493 assets. Source: Dune Analytics

Related: Ondo Finance to SEC: Hold disconnected connected Nasdaq’s tokenized securities plan

Blockchain-based derivatives, not existent shares

In June, Robinhood launched a tokenization-focused layer-2 blockchain built connected Arbitrum, allowing EU users to commercialized tokenized US stocks and ETFs arsenic portion of its real-world plus (RWA) expansion.

The company’s banal tokens reflector the prices of publically traded US securities but don’t correspond nonstop ownership of the underlying shares. Instead, they are structured arsenic blockchain-based derivatives regulated nether MiFID II (Markets successful Financial Instruments Directive II), according to the company.  

The institution besides claims the banal tokens connection 24-hour marketplace access, nary hidden fees beyond a 0.1% FX complaint and the quality to commencement investing with conscionable 1 euro ($1.17).

However, the rollout has drawn scrutiny. In July, the Bank of Lithuania, which regulates Robinhood successful the EU, requested clarification connected however the tokens are structured. Tenev said the steadfast welcomes the review.

Related: Following US success, Robinhood eyes enlargement of prediction markets overseas

Robinhood deepens its crypto expansion

Robinhood’s tokenization rollout came soon aft the brokerage steadfast launched micro futures contracts for Bitcoin (BTC), XRP (XRP) and Solana (SOL).

Earlier successful May, the steadfast acquired Canadian crypto level WonderFi successful a $179 cardinal deal, further expanding its planetary footprint. Robinhood has besides been pushing for clearer tokenization regulations successful the US, submitting a connection to the Securities and Exchange Commission for a unified nationalist model governing RWAs.

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