Tokenized stocks on Robinhood Chain grow fivefold to ~$70M — but still under a tenth of the chain's trading
Tokenized real-world assets on Robinhood Chain rose to about $70 million, roughly fivefold in under two weeks, though memecoins and stablecoins still account for most of the network's near-$600 million daily volume.
Robinhood Chain, the network Robinhood built to move equities on-chain, is finally doing some of what it was pitched to do. Tokenized real-world assets (RWAs) on the chain have climbed to about $70 million, a roughly fivefold jump in less than two weeks, according to DefiLlama data cited by CoinDesk. A dozen tokenized stocks are each now clearing at least $500,000 in daily volume, and five are above $1 million.
The biggest names lead. A tokenized GameStop share is doing $26.6 million in daily volume, with Nvidia at $14 million and SpaceX at $6.4 million, per CoinDesk's read of the on-chain data. Total value locked has roughly tripled since mid-July to about $312 million (DefiLlama), and the chain is clearing more than $600 million in daily decentralized-exchange volume, with over 138 million transactions in 30 days (Token Terminal).
That's the growth story. The other half is that the chain still doesn't look like an equities venue. Tokenized stocks generate roughly $55 million in daily volume — under a tenth of the near-$600 million total. Stablecoins remain the single largest presence, in the hundreds of millions, and memecoins still dominate the trending lists: on DEX Screener, tokens named "Hoodrat," "Vladhood" and "Swole Doge" rank ahead of the equities the network was built for. One early standout, CASHCAT — a token built around Robinhood's abandoned original name, which Robinhood has no part in — spiked more than 1,700% after CEO Vlad Tenev followed its account, then fell about 75% from its peak.
Key facts
- Tokenized RWAs on Robinhood Chain: ~$70M, roughly 5x in under two weeks — DefiLlama, via CoinDesk.
- 12 tokenized stocks each clearing ≥$500K/day; five above $1M — CoinDesk.
- GameStop $26.6M, Nvidia $14M, SpaceX $6.4M daily volume — CoinDesk.
- TVL ~$312M (roughly tripled since mid-July); >$600M daily DEX volume; >138M transactions in 30 days — DefiLlama and Token Terminal, via CoinDesk.
- Tokenized stocks ≈ $55M/day, under a tenth of total DEX volume; stablecoins largest by market value — CoinDesk.
The real-world read
The "fivefold" is real but starts from a small base — RWAs were about 4% of the network weeks ago, so a jump into the tens of millions still leaves equities as a minority of activity. The dominant story on the chain remains memecoins and stablecoins, not stocks. Two cautions: every figure here traces to on-chain aggregators (DefiLlama, Token Terminal, DEX Screener), not audited disclosures, and DEX volumes can be inflated by wash trading, so treat single-day totals as directional. And CoinDesk's own framing — activity "moving toward the pitch" — is generous; by its own numbers, the tokenized-stock business is under 10% of what happens on the chain Robinhood built to host it.
Opinion, and whose
CoinDesk's assessment is that the tokenized-stock business is "materializing" and trending toward Robinhood's original vision as it works to bring retail users on-chain. That's a forecast about direction, not a settled outcome; the same data shows how far the chain still is from being equities-first.
Sources
- CoinDesk (Tier 2, reputable secondary), 25 July 2026 — the RWA, TVL, volume, transaction and token-specific figures; itself citing DefiLlama, Token Terminal and DEX Screener on-chain data. Not marketing.
This is news, not financial advice.