Robinhood has expanded its tokenization initiative on the Arbitrum blockchain, deploying 80 new fairness tokens up to now few days, bringing the entire variety of tokenized property to almost 500.
In response to knowledge from Dune Analytics, Robinhood has tokenized 493 property totaling greater than $8.5 million. Cumulative mint circulation exceeds $19.3 million, offset by roughly $11.5 million in burning exercise, indicating a rising however actively traded market.
Equities account for nearly 70% of the entire tokens deployed, adopted by about 24% in exchange-traded funds (ETFs), with smaller allocations to commodities, crypto ETFs, and US Treasuries.
In response to analysis analyst Tom Wang, the newest batch of tokenized property consists of Galaxy (GLXY), Webull (BULL), and Synopsys (SNPS). “Because of tokenization, Robinhood EU customers can now personal a wider vary of US shares, equities and ETFs,” he stated.
Robinhood has tokenized 493 property. Supply: Dune Analytics
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Blockchain-based derivatives as an alternative of bodily shares
In June, Robinhood launched a tokenization-focused Layer 2 blockchain constructed on Arbitrum, permitting EU customers to commerce tokenized U.S. shares and ETFs as a part of its Actual World Belongings (RWA) growth.
The corporate’s fairness tokens mirror the worth of U.S.-listed securities, however don’t characterize direct possession of the underlying shares. The corporate says it’s as an alternative structured as a blockchain-based by-product regulated underneath MiFID II (Markets in Monetary Devices Directive II).
The corporate additionally claims that the inventory token has 24-hour market entry, no hidden charges past a 0.1% trade charge, and you can begin investing from as little as 1 euro ($1.17).
Nonetheless, this growth is being watched intently. In July, the Financial institution of Lithuania, which regulates Robinhood within the EU, requested for clarification on the construction of the token. Tenev stated the corporate welcomed the evaluation.
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Robinhood ramps up crypto growth
Robinhood’s tokenization rollout comes shortly after the brokerage launched micro futures contracts for Bitcoin (BTC), XRP (XRP), and Solana (SOL).
In early Could, the corporate acquired Canadian cryptocurrency platform WonderFi in a $179 million deal, additional increasing its international footprint. Robinhood can be pushing for readability round tokenization laws within the US, submitting a proposal to the Securities and Alternate Fee calling for a uniform nationwide framework governing RWA.
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