Update
Robinhood Chain Generates $51.11M in Fees
Bitwise estimates that Robinhood Chain, a proprietary blockchain used by Robinhood for tokenized stock trading, retained nearly 90% of its $51.11 million in Q3 fees before operating costs. The Ethereum layer-2 network, launched on July 1, recorded $14.05 billion in tokenized stock trading volume during its first quarter. The growth has extended beyond Robinhood's own trading operations, with decentralized exchange trading volume for tokenized stocks rising 447% after the network's launch.