Nvidia leads Robinhood Chain with 74K asset holders, SPY ranks seventh

Nvidia’s tokenized equity on Robinhood Chain has attracted roughly 74,000 asset holders, making it the most popular offering on the platform by a wide margin. SpaceX and Apple trail in second and third place, while the SPDR S&P 500 ETF, better known as SPY, sits all the way down in seventh.

The numbers behind Robinhood Chain’s growth

Robinhood Chain is a Layer-2 network built on Arbitrum’s technology. It enables trading of tokenized US equities and ETFs as ERC-20 tokens, each backed by underlying shares held by custodians. That structure allows for on-chain trading, self-custody, and integration with DeFi protocols.

Real-world asset activity on the chain swelled nearly fivefold during July 2026, reaching approximately $70 million in market cap. Most of that surge came from demand for tokenized equities specifically, not other RWA categories.

Nvidia’s tokenized version, referred to as NVDArh, has been the clear frontrunner. Beyond holder counts, the token has demonstrated roughly $2.4 million in DeFi deposits in recent snapshots, suggesting holders aren’t just buying and sitting on the asset. They’re putting it to work in lending and liquidity protocols.

Across all platforms offering tokenized equities, not just Robinhood Chain, total holder counts exceeded 766,000 by late July 2026. That number reportedly accumulated in a strikingly short timeframe, with significant growth occurring within just two weeks.

Why tech stocks are beating SPY on-chain

SpaceX adds an extra wrinkle: it’s a private company, meaning tokenized versions on platforms like Robinhood Chain offer a form of access that traditional retail brokerage accounts simply cannot provide.

What this means for the RWA market

When tokenized stock holders deposit their assets into lending protocols or liquidity pools, they’re creating composability between traditional equities and decentralized finance. A holder of NVDArh can potentially earn yield on their Nvidia position in ways that aren’t available through a standard brokerage account.

Tokenized equities depend on custodians holding the underlying shares, introducing counterparty risk that doesn’t exist when you hold stock directly. The 766,000 total tokenized equity holders across all platforms represents meaningful adoption, but that figure is tiny relative to the hundreds of millions of brokerage accounts globally.

Early data from Nvidia’s token, with its $2.4 million in DeFi deposits, suggests at least some holders are treating these assets as functional financial instruments rather than digital keepsakes.