Robinhood's tokenized stocks cover more than 190 U.S. companies, but they are backed only by offshore debt products that U.S. investors cannot yet buy. Much of the early trading boom came from pairing meme coins with tokenized stocks, and in its latest quarterly earnings the company said its chain generated over $50 million in chain fees, helping lift total revenue 12% to $1.4 billion. With 28.6 million funded customers at the end of September, U.S. customers could gain access quickly if regulations change, and the author thinks that outcome could be worth betting on given recent SEC and CFTC efforts to revise the rules. The author expects HOOD's value to increase significantly over the next couple of years, while noting the author does not plan to buy the stock personally.
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