Robinhood's Tenev Sees Tokenization Supercycle Beginning with Record $9B Trading Volume
Roland Kobissi's letter on X reported that total trading volume in on-chain tokenized equities has reached $9 billion in 2026, marking a record growth of over 207% quarter-over-quarter and more than 800% year-to-date.
The growth is largely driven by demand for exposure to high-momentum stocks, particularly memory and storage stocks, in a globally accessible 24/7 market. On-chain equity tokenization enables companies to represent shares as blockchain-based digital tokens, either mirroring traditional shares or serving as the official ownership record.
Vlad Tenev, CEO of Robinhood Markets Inc., sees this shift as an early stage of the 'tokenization supercycle' and believes it is the best path to modernizing the American financial system. He emphasizes that tokenization is not just about putting stocks on a blockchain but rebuilding the infrastructure underneath ownership to allow assets to move freely like information on the internet.