You can now trade a tokenized version of Robinhood’s stock on the same blockchain where people swap memecoins. HOODx, the tokenized representation of $HOOD, is live on Jupiter through Sunrise, Solana’s canonical liquidity gateway for external assets.

What Sunrise actually does

Sunrise launched in November 2025 as a project built by Wormhole Labs. Its purpose is straightforward: bring non-native tokens onto Solana and make them immediately tradable across the chain’s most popular venues.

The platform uses Wormhole’s Native Token Transfers (NTT) framework to handle the plumbing. It wraps external assets in a way that makes them feel native to Solana, so they plug directly into exchanges like Jupiter, Raydium, Meteora, and Orca without friction.

HOODx prices have tracked their Nasdaq counterpart, typically ranging between $102 and $115. Traditional stock markets operate during set hours, Monday through Friday, with holidays sprinkled in. Tokenized equities on Solana trade 24/7, meaning a trader in Singapore can react to after-hours news about Robinhood without waiting for the Nasdaq opening bell.

A growing roster of tokenized stocks

SPCX, a tokenized representation of SpaceX stock, debuted on June 12, 2026, timed to coincide with SpaceX’s actual Nasdaq IPO. Micron’s tokenized stock, MU, was introduced around the same timeframe.

Backed Finance’s xStocks platform crossed a market cap exceeding $1B by early 2026, demonstrating that demand for on-chain stock trading isn’t just theoretical.

The irony of tokenizing Robinhood

Robinhood itself launched tokenized stock trading on Arbitrum for EU customers in late June 2025. The company that democratized stock trading for retail investors is now competing in the same tokenized equity arena where its own stock is being listed by a third party.

Robinhood chose Arbitrum, an Ethereum Layer 2, for its tokenized offerings. Sunrise chose Solana. The fact that Robinhood launched its tokenized offerings specifically for EU customers, not US ones, tells you something about where regulators currently stand.

What this means for investors

When the same underlying asset trades on Nasdaq, on Arbitrum through Robinhood, and on Solana through Sunrise, liquidity gets split across multiple venues. Traders should watch for significant price deviations between HOODx and its Nasdaq equivalent, which could signal liquidity stress or create short-term arbitrage windows.

Tokenized equities sit at the intersection of securities law and crypto regulation. The fact that Robinhood launched its tokenized offerings specifically for EU customers, not US ones, indicates where regulators currently stand on US access to these products.