Shrek2HulkSimbaAnusHannahMontanInu (ETH)

📊 LATEST: Robinhood Chain has recorded over $70 million in bridged ETH over the past week, while daily active users reached 194,000, according to Token Terminal. https://t.co/E2qSu30cFq

I think the market has underestimated Robinhood's move to build a public chain.
Many people's first reaction when they see the news is:
HOOD launched a Layer2.
But I believe what they really want to build is not a public chain per se, but an Onchain Nasdaq.
That's the truly noteworthy aspect.
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For the past few decades, the underlying infrastructure of US stock trading has changed little.
User order → broker → exchange → clearinghouse → T+1 settlement.
What Robinhood wants to change is this underlying architecture.
On July 1, Robinhood Chain went live on mainnet. It is an Ethereum Layer2 built on the Arbitrum Orbit stack, designed specifically for tokenizing traditional securities such as stocks and ETFs.
In the future, a share of Apple, Nvidia, Tesla, etc., can fundamentally become a token on-chain, trading 24/7, and accessible in over 120 countries and regions (US users are not yet included).
For the first time, stocks become truly composable assets.
They can not only be bought and sold, but also:
• 24/7 trading
• Used as collateral for lending (Robinhood already launched an on-chain loan product with ~7% annual yield)
• Participate in DeFi
• Provide liquidity (LP)
• Be automatically managed and allocated by AI agents
Stocks are no longer just stocks; they become financial Lego bricks on-chain.
However, a detail worth noting: currently these Stock Tokens are legally more akin to debt securities that track stock price performance rather than direct equity, and holders do not enjoy shareholder rights.
That's why Robinhood ties the market's imagination for the chain to the HOOD stock price instead of issuing a native on-chain token—you are essentially buying “whether Robinhood can execute this” rather than a token of the chain itself.
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Many people like to compare Coinbase and Robinhood.
But I think the two companies have taken completely different paths.
What Coinbase aims to do is:
Bring the internet onto the chain.
Base, USDC, DeFi, payments, social…
Build an open on-chain economy.
What Robinhood aims to do is:
Bring Wall Street onto the chain.
Stocks, ETFs, RWA, on-chain securities, on-chain settlement.
In the future, competition will not be about lower fees, but about who can become the platform for issuing and circulating global financial assets.
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Another point that many market participants seem unaware of.
Robinhood Chain is not a new Layer1.
It adopts Ethereum + Arbitrum Orbit (gas is still settled in ETH, unlike most Orbit chains that choose a custom gas token).
What does this mean?
It is not competing with Ethereum; rather, it adds a large-scale financial application to the Ethereum ecosystem.
In recent years, we have seen more and more traditional financial assets being deployed on the Ethereum ecosystem:
• Stablecoins
• Real‑World Assets (RWA)
• On-chain funds
• Tokenized Stocks
If more financial institutions follow this route, ETH's role may become akin to TCP/IP in the internet era.
It rarely gets discussed, yet more financial assets will run on top of it.
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Thus, I am increasingly convinced of one thing:
The biggest narrative of the next decade may not be memes.
Nor solely DeFi.
What truly deserves attention might be:
Wall Street Onchain.
Robinhood and Coinbase are just two entry points in different directions.
One is responsible for bringing the internet onto the chain.
The other is responsible for bringing Wall Street onto the chain.
If this trend holds, the next round of competition in crypto will no longer be about who has more memes, but about who can carry global financial assets.
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Finally, my own judgment:
If Robinhood can eventually migrate tens of millions of brokerage users and hundreds of billions, perhaps even larger, of securities assets onto the chain, its competitors will no longer be just other online brokers but the traditional securities trading and clearing systems themselves.
At that point, Robinhood's valuation logic may need to be redefined—it will no longer be just a broker, but more like a global financial infrastructure company.
For ETH, I believe its true value will not just be gas fees, but gradually become the underlying settlement layer for global financial assets.
Of course, a caveat: the shareholder rights of Stock Tokens, regulatory classification (the US SEC has issued compliance guidance on similar structures), and whether they will extend to US domestic users are still in early stages, deserving continued monitoring rather than simple linear extrapolation.
If this trend materializes, looking back at Robinhood Chain today, we may find that it is not just another public chain but a crucial starting point for traditional finance moving fully onto the chain.

The sell wall of $ETH whales still exists at $1980. https://t.co/N5FCptMew9