Robinhood CEO Vlad Tenev Says ‘Tokenization Supercycle’ Is Just Beginning – As On-Chain Equity Trading Reportedly Hits Record High In 2026

• Tenev said tokenization is not just about putting stocks on a blockchain, but about rebuilding the infrastructure underneath ownership so assets can move as freely as information does on the internet. 
• The Kobeissi Letter said in a post on X that total trading volume in on-chain tokenized equities has hit $9 billion in 2026.
• This marks a new record of a growth of over 207% quarter-over-quarter and more than 800% year-to-date.

Robinhood Markets Inc. (HOOD) CEO Vlad Tenev sees a major shift underway in how investors own and trade stocks, adding that global markets are in an early "tokenization supercycle". He believes that tokenization is the "best path" to modernize the American financial system as markets move toward an increasingly always-on model.

Tenev's bullish view comes as Robinhood expands its blockchain infrastructure and tokenized-stock offering globally, while Nasdaq prepares to introduce a new overnight session that would extend U.S. stock market trading to nearly 23 hours a day.

Meanwhile, The Kobeissi Letter said in a post on X that total trading volume in on-chain tokenized equities has hit $9 billion in 2026, notching a new record of a growth of over 207% quarter-over-quarter and more than 800% year-to-date.

“This comes amid demand for exposure to high momentum stocks, particularly memory and storage stocks, in a globally accessible 24/7 market,” the market commentary service said. 

On-chain equity tokenization involves representing company shares as blockchain-based digital tokens, either mirroring traditional shares or serving as the official ownership record. It can enable 24/7 global trading, fractional ownership and automated compliance through smart contracts.

Tenev Says Tokenization The ‘Best Path’ To Modernizing American Financial System

In an article posted to X, Tenev noted that since the launch of Robinhood Chain, it has become the fastest Ethereum Virtual Machine (EVM) chain to reach 100 million transactions, giving people in over 120 countries economic exposure to 190+ U.S. stocks, backed 1:1 by underlying shares.

The CEO noted that the debate around equity tokenization in the U.S. centers on whether it solves a real problem, given Americans already have easy, low-cost access to stocks through platforms such as Robinhood. 

However, he argued that even though Robinhood’s Stock Tokens are fully backed by underlying securities and provide economic exposure, including dividends, they do not represent direct share ownership. 

The bigger innovation, he says, is making financial assets portable, programmable, self-custodiable and tradable 24/7 through an open financial system. 

“Tokenization is the best path to modernizing the American financial system and expanding the dream of ownership to all–Americans included,” he said. 

Tenev said that tokenization is not just about putting stocks on a blockchain, but about rebuilding the infrastructure underneath ownership to allow for assets to move as freely as information does on the internet. 

“For American investors, that infrastructure unlocks three immediate advantages,” such as real-time settlement, more resilient markets, access to native 24/7 trading, giving people more control over their assets, and forcing financial platforms to compete, he said. 

“American investors should benefit from this innovation, too. These are, after all, largely American assets, and American companies like Robinhood are driving much of the innovation. It would be a strange outcome if the rest of the world could build the future of ownership around American assets while Americans themselves were left behind,” he added. 

What Is Robinhood Chain?

Robinhood Chain is a permissionless, Ethereum-compatible Layer-2 built with Arbitrum technology, focused on tokenized real-world assets, equities and AI-driven financial services. 

Launched in July, it enables 24/7 on-chain access to U.S. stocks and exchange-traded funds under its tokenized stock features that are available in more than 120 countries globally via the Robinhood Wallet app.

The network is also designed for AI agents and high-speed machine transactions, supporting rapid settlement through 100-millisecond block times.

Nasdaq Plans Longer Trading Window

Meanwhile, the tech-heavy Nasdaq is planning to launch a nearly 23-hour trading day, operating five days a week. The new schedule is expected to start on Dec. 6, pending regulatory approval. 

It will introduce an overnight session from 9:00 p.m. to 4:00 a.m. ET, creating a continuous weekly trading cycle from Sunday at 9:00 p.m. to Friday at 8:00 p.m. ET, with a one-hour maintenance schedule. 

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