Robinhood Expands Tokenized US Stocks and ETFs on Arbitrum for EU Users
Robinhood has tokenized 493 US stocks and ETFs on the Arbitrum network, offering EU users access to over $8.5 million in on-chain assets. The platform has minted $19.3 million worth of tokens, with $11.5 million already burned. Stocks dominate 70% of the portfolio, followed by ETFs at 24%, and a marginal allocation to commodities, crypto-based ETFs, and US Treasurys.
New additions include Galaxy (GLXY), Webull (BULL), and Synopsys (SNPS). These tokens function as derivatives under MiFID II regulations, tracking underlying asset prices without conferring direct ownership. Robinhood emphasizes affordability, charging only a 0.1% FX fee.
The MOVE builds on Robinhood's June deployment of a dedicated Arbitrum Layer-2 blockchain for European markets. Analyst Tom Wan notes the expansion significantly broadens access to US equities for EU investors through tokenization.
