Robinhood reports $15B in stock token trading as its chain hits 100 days

Robinhood Chain has reached its first 100 days. The company says its stock tokens have already logged $15 billion in cumulative trading volume.

That is a lot of tokenized Apple and Tesla exposure for a network that did not exist at the start of the summer. Robinhood also says the tokens now have about 200,000 holders. Morpho’s dashboard shows about $1.1 billion deposited on the network.

The numbers behind the first 100 days

Robinhood Chain is an Ethereum Layer-2 network built on the Arbitrum Orbit stack. Its mainnet launched on July 1, 2026, and the chain passed roughly 100 days of operation by mid-October.

The headline metric is the $15 billion in cumulative Stock Token volume since launch. September was a heavy month. Robinhood captured about 42% of on-chain equity trading volume that month, which works out to $6.57 billion.

The holder count, which the company puts at around 200,000, offers a second measure of adoption. Volume can be inflated by a handful of active traders. Wallet counts suggest how wide the user base actually is.

Then there is the DeFi side. Morpho, a lending protocol, shows about $1.1 billion deposited on Robinhood Chain through its dashboard. Much of that activity centers on lending markets and vaults that use the tokenized assets.

What a stock token actually is

Robinhood’s Stock Tokens are ERC-20 tokens, the standard format for most assets on Ethereum. Legally, they are tokenized debt securities issued by Robinhood Assets (Jersey) Limited.

Each token is backed 1:1 by the underlying equity held in custody. Holders get economic exposure to US stocks and ETFs, meaning price moves flow through to them.

What they do not get is ownership or voting rights in the underlying companies.

The tokens trade around the clock on decentralized exchanges such as Uniswap. Users can also plug them into Morpho to lend them out or post them as collateral for loans.

Access is currently limited to users outside the US, UK, and Canada. On the technical side, the chain uses ETH for gas fees and posts block times under 100 milliseconds. It has also seen rapid growth in DEX volume, users, and total value locked, along with occasional bursts of memecoin trading.

Why Robinhood built its own chain

Rather than leaning on another chain’s roadmap or fee market, it controls the settlement layer. Building on Arbitrum Orbit lets it customize the network while staying connected to Ethereum’s broader liquidity and tooling.

The research behind this report describes the offering as available in more than 120 jurisdictions.

What this means for traders, DeFi, and competitors

The Morpho figure is arguably more interesting than the trading volume. About $1.1 billion deposited on the network suggests users are not just flipping tokens. They are putting them to work as collateral and in yield strategies.

The competitive picture is heating up. BNB Chain and Solana are also chasing tokenized equity activity. A 42% monthly share is a strong position, but share is something that can be won and lost.

Because the tokens are structured as debt securities, holders depend on the issuer and custody arrangement rather than holding the shares outright. Holders also lack the governance rights that come with real equity.

The exclusion of US, UK, and Canadian users is the other big variable. Those markets hold a large share of Robinhood’s existing customers.