Robinhood Chain, an Ethereum layer-2 network built on Arbitrum, has passed 420,000 real-world-asset holders and $1.3 billion in total value locked six weeks after its July 1 launch. Bitmine chairman Tom Lee says the network's access to Robinhood's 27 million customers could make it one of 2026's biggest crypto stories, though memecoins still drive most of its trading volume and several products remain unavailable to US users.
Robinhood Chain has crossed 420,000 real-world-asset holders and $1.3 billion in total value locked, roughly six weeks after its July 1 mainnet launch. That puts the network ahead of both Ethereum and Solana on RWA holder leaderboards, according to Crypto Briefing. The chain started with about $39 million in TVL at launch, a roughly 33x increase in just over a month.
Tom Lee frames the network as an ETH adoption story
Bitmine chairman and Fundstrat co-founder Tom Lee argues Robinhood Chain's reach could carry blockchain activity beyond crypto-native users. According to Lee: "the breakaway success of the Robinhood Chain L2 mainnet on July 1" already ranks among 2026's biggest crypto stories. He said Robinhood's 27 million users are effectively paying transaction fees denominated in ETH, which he frames as a step toward everyday users treating ETH as money.
That 27 million figure refers to Robinhood's overall customer base rather than confirmed Robinhood Chain users. Robinhood reported 27.4 million funded customers at the end of the first quarter, up 1.7 million from a year earlier. Lee separately cited more than $1 billion in dollar-denominated trading volume shortly after launch.
Network data shows fast growth, memecoin-heavy volume
Robinhood Chain approached $9 billion in cumulative DEX volume within three weeks of launch, per figures crypto.news previously reported. FalconX data cited in that report put total value locked at $431 million, with close to $400 million in stablecoins and more than 250,000 daily active users. Still, memecoins accounted for over 80% of that cumulative DEX volume, even though Robinhood built the chain mainly for tokenized stocks and other real-world assets.
The network also waived gas fees during its first 90 days, which may have pulled forward short-term activity. Morpho, a lending protocol, emerged as one of the network's largest protocols after institutional deposits helped push locked value higher. Separately, Morpho also lets users borrow against tokenized stock positions, according to Crypto Briefing.
US customers face fewer options
Robinhood launched tokenized stocks in more than 120 countries, but the tokens were not offered in the US, Canada, the UK and other restricted markets. Those tokens give holders economic exposure to the underlying shares without legal ownership. Perpetual futures offered through Robinhood Wallet were also unavailable in the US, limiting American access to one of the network's main sources of activity.
On the market side, Robinhood shares traded near $93.67 on Aug. 10, little changed on the session. Bitmine shares fell about 2.2% to $18.40 the same day. ETH itself traded near $1,625.
Sources: crypto.news, Crypto Briefing
Trading involves risk.
Risk Disclaimer
