What Are Robinhood Stock Tokens?
Stock Tokens track equities like NVDA and GME on-chain, trade 24/7 and work as DeFi collateral — but they are not share ownership. Here is the mechanism.
Robinhood Stock Tokens are ERC-20 tokens on Robinhood Chain that track the price of an equity or ETF. They trade around the clock, sit in any compatible wallet, and can be used as collateral in DeFi protocols.
The part most coverage skips: they are tokenized debt securities, not shares. You hold a claim on the issuer whose value tracks the stock. You do not get voting rights, and you are not on the company's share register. If that distinction matters to you, it should change how you size a position.
How does a Stock Token actually work?
Three layers, and it helps to keep them separate:
| Layer | What it is | What can go wrong |
|---|---|---|
| The equity | A real share held by the issuer | Normal market risk |
| The security | A debt instrument tracking that share | Issuer credit risk |
| The token | An ERC-20 representing the security | Smart contract and chain risk |
A brokerage position has only the first row. A Stock Token has all three. That is the honest trade you are making in exchange for the token being programmable.
Which stocks are tokenized?
Robinhood Chain launched its mainnet on 1 July 2026 as an Arbitrum-based Ethereum L2, with Stock Tokens as the flagship product. The set has grown steadily. The tickers with the deepest on-chain liquidity today include NVDA (NVIDIA), GME (GameStop), SPCX (SpaceX), SNDK (SanDisk) and AAPL (Apple).
SPCX is worth pausing on: SpaceX is a private company. A tokenized claim is one of the few ways to hold price exposure to it at all, which is a genuinely new thing rather than a more convenient version of something that already existed.
What can you actually do with them?
Three things, in rising order of how much the token being on-chain matters:
| Action | Why it needs a token |
|---|---|
| Hold price exposure | Nothing — a brokerage does this fine |
| Trade at 3am on a Sunday | Equity markets are closed; the pool is not |
| Earn yield or post collateral | Only possible because it is an ERC-20 |
The third row is the interesting one, and it is covered in How to Earn Yield on Tokenized Stocks.
Who can hold them?
Stock Tokens are available in more than 120 countries, but not in the United States, Canada, the United Kingdom, Switzerland or the UAE. If you are reading this from New York or London, the rest of this article is theory.
This is the single most misunderstood fact about the product. Most English language coverage is written for a US audience that cannot buy the thing being described.
What are they worth on-chain?
Tokenized equities are the fastest-growing slice of the real-world asset market. The broader RWA market passed $51 billion in 2026, up roughly 40% over the year, and tokenized equities within it grew about 50% to somewhere between $1.3bn and $2.2bn depending on what you count.
That is small next to tokenized treasuries or private credit, which together make up most of the market. It is also growing faster than either.
Where Alandale fits
Stock Tokens are only useful if there is somewhere to trade them, and trading venues are only useful if someone is paid to provide the liquidity.
Alandale runs concentrated-liquidity pools for NVDA, GME, SNDK and SPCX against USDG and WETH — 12 pools, $173,555 of TVL and $134,995 of volume in the last 24 hours at the time of writing. It is the only ve(3,3) venue on Robinhood Chain, which means 100% of trading fees go to people who lock LUTE and vote, rather than to the protocol.
That mechanism is what makes Alandale different from a plain AMM. Elsewhere on the chain, supplying liquidity earns the fee tier and nothing else — no locking, no gauge voting, no share of what the protocol collects. Here, the people who supply the capital and lock the token are the people who get paid.