Robinhood Blockchain Forecast Sees $160M in Annual Fees by 2028
Robinhood's blockchain network is expected to become a significant revenue engine for the company, according to Bernstein analysts. The forecast suggests that the chain could generate up to $160 million in annual fees by 2028.
The rapid rise of tokenized stock trading on the platform has contributed to this growth, with tokenized stocks now accounting for about 27% of total volume. Initially, memecoin pairs represented nearly all trading activity on the network, but this figure has since fallen to around 36%. The analysts attribute this shift in activity mix to automated market-making pools on Uniswap, which create 'reflexive demand' by pairing memecoins with tokenized stocks.
Early fee generation figures for Robinhood Chain have been impressive, climbing to the top of daily blockchain fee rankings in just over two months. The network generated approximately $2.13 million in fees over the latest 24-hour period, according to data from DefiLlama.
The analysts at Bernstein believe that tokenized equities are a key driver of this growth and have already incorporated them into their more optimistic view of Robinhood's future. They raised their price target for Robinhood shares to $160 from $130 while maintaining an Outperform rating.