Vlad Tenev Asked Regulators to Green-Light Tokenized Stocks. Robinhood Just Added About $12 Billion in Market Value.

Key Points

• Robinhood stock jumped about 14% on Friday, capping a week of crypto-friendly news out of Washington.

• The entire on-chain tokenized-stock market holds about $2.5 billion of value, according to data platform RWA.xyz.

• Robinhood customers traded a record $956 billion of equities in the second quarter.

Robinhood(NASDAQ:HOOD) CEO Vlad Tenev called on U.S. regulators Tuesday to set a framework for tokenized stocks (blockchain-based versions of ordinary shares). In a post on X, he argued that the financial system is in the early stages of a global "tokenization supercycle," and that America risks watching it happen from overseas.

The next day, the administration pressed Congress to pass the Clarity Act, the stalled bill that would settle how digital assets are regulated, at a White House meeting with crypto executives. And Bitcoin, up about 24% since Monday in its best week since 2023, was lifting brokerages with crypto exposure at the same time.

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