Robinhood chain to generate $160M in annual fees by 2028: Bernstein
Growing demand for tokenized stock trading may drive the Robinhood chain’s annual fees to $160 million by 2028, predicted analysts from Bernstein.
Analysts from Bernstein predict that the Robinhood chain could generate $160 million in annual fees by 2028, due to the growing demand for tokenized stock trading. The blockchain network, operated by trading platform Robinhood, is expected to be worth up to $160 million annually by the end of next year, according to a report shared with Cointelegraph.
The analysts highlighted that the network's demand for tokenized stocks is driven by automated market-making pools on Uniswap, which pair memecoins with stock tokens and create "reflexive demand" for both. In the first two months since its launch, the Robinhood chain has become the leading blockchain network by daily fees, earning $2.13 million in the past 24 hours, as per DefiLlama.
Bernstein recently raised its price target for Robinhood (HOOD) stock to $160 from $130 per share and maintained its Outperform rating, anticipating growth in the platform's prediction market business and tokenized equities. The company's shares traded on Nasdaq remained relatively stable in Tuesday's premarket trading. However, Robinhood's blockchain-based equities have faced criticism from Adam Aron, the CEO of AMC Entertainment Holdings.
Aron labeled the platform's tokenized stocks as "outrageous" and claimed that they have no connection with the company, urging it to request an investigation from its outside securities counsel.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
