Robinhood’s Crypto-Fueled Surge Sends Stock to Record Highs—Here’s Why Traders Are FOMOing In

Robinhood just dropped a crypto-loaded bombshell—and Wall Street's eating it up like a meme-stock rally. The retail trading platform's stock rocketed to all-time highs after unveiling an aggressive digital asset roadmap that reads like a Bitcoin maximalist's wishlist.

From Zero to Crypto Hero

Once dismissed as a GameStop casino, HOOD's doubling down on blockchain like a degens betting on a shitcoin. New wallet features, altcoin expansions, and—wait for it—institutional-grade custody solutions suggest they're gunning for Coinbase's lunch money.

The Institutional Wink

Buried in the press release jargon? A barely-veiled play for the ETF custodial business that's making BlackRock sweat. Because nothing says 'mature financial platform' like courting both diamond-handed apes and pension funds simultaneously.

Cynics whisper this is just another brokerage chasing crypto's siren song after traditional revenues flatlined. But today? The market's voting with its wallet—and the ticker's mooning harder than a Solana memecoin.

Robinhood’s new product offering

On June 30, Robinhood revealed plans to launch a Layer 2 blockchain built on the Arbitrum network. This blockchain is designed to enhance Ethereum’s scalability while supporting the tokenization of real-world assets.

The platform will offer features such as 24/7 trading, seamless bridging, and self-custody, reinforcing Robinhood’s shift towards becoming a more comprehensive platform that integrates traditional finance and crypto-based products.

As part of this expansion, Robinhood plans to offer over 200 US stocks and ETFs on the Arbitrum network. This will allow eligible European customers to access these assets without incurring commission fees or added spreads.

The company’s CEO, Vlad Tenev, demonstrated the new service at an event in Cannes, France, showcasing the real-world application by executing a stock token transaction for OpenAI on the Arbitrum network.

Perpetual futures

In addition to tokenized stocks, Robinhood is preparing to launch crypto perpetual futures in the European market by the end of the summer. These futures will allow traders to gain continuous exposure to crypto, with leverage of up to 3x.

The firm stated that the orders for the new product are routed through Bitstamp’s perpetual futures exchange.

Robinhood also introduced crypto staking services for US customers, starting with ethereum and Solana. These services will enable investors to earn rewards by staking their assets to support the blockchain networks.

Johann Kerbrat, GM and SVP of Robinhood Crypto, emphasized that these innovations are designed to make crypto as accessible as possible.

He said:

“Crypto was built by engineers for engineers, and has not been accessible to most people.We’re onboarding the world to crypto by making it as easy to use as possible—with the goal of bringing powerful tools into one intuitive platform.”