TLDR
- Robinhood CEO Vlad Tenev is calling on U.S. regulators to create a framework for tokenized stocks
- Robinhood already offers over 2,000 stock tokens to customers in the EU and EEA
- Tokenized stocks could enable 24/7 trading and real-time settlement on blockchain
- Onchain tokenized equity trading volume hit around $9 billion in 2026, up over 800% year to date
- U.S. securities laws remain the main barrier to bringing tokenized stocks to American investors
Robinhood CEO Vlad Tenev is pushing U.S. regulators to build a legal framework for tokenized stocks, warning that America could fall behind as other markets move forward with blockchain-based equities.
🔥BULLISH: Robinhood CEO Vlad Tenev says “we are in the early innings of a global tokenization supercycle” that will “eat the ENTIRE financial system.”
Tenev is urging the U.S. to clear the path for tokenized stocks, arguing that real-time settlement, 24/7 trading and asset… pic.twitter.com/C71oMwF6Y1
— Coin Bureau (@coinbureau) August 19, 2026
Tenev made the call on August 18, saying financial markets are at the start of what he calls a “tokenization supercycle.” He argues the technology could reshape how assets are owned, traded, and transferred.
What Tokenized Stocks Actually Are
Tokenized stocks are blockchain-based versions of traditional equities. Robinhood’s tokenized shares are backed 1:1 by real stocks, but holders do not directly own those shares. That distinction is at the center of ongoing regulatory debate.
Tenev says the focus on ownership structure misses the bigger picture. He believes tokenization is about rebuilding the infrastructure under asset ownership so markets can run faster and more openly.
Robinhood already offers more than 2,000 stock tokens to eligible customers across the European Union and European Economic Area. These tokens give users exposure to U.S. stocks and ETFs on the blockchain.
The company has also launched the public testnet for Robinhood Chain, an Ethereum Layer 2 network built for financial applications. That testnet processed more than 100 million transactions as of April.
The Case for Faster Settlement
One of Tenev’s main arguments is about settlement speed. He pointed to the 2021 GameStop trading frenzy, when Robinhood restricted stock purchases after clearinghouse collateral demands surged.
He says blockchain-based settlement could prevent that kind of pressure. Real-time settlement means less risk between the time a trade is placed and when it clears.
U.S. stock settlement currently runs on a one-business-day cycle, known as T+1. Tenev argues tokenization could cut that further, reducing collateral requirements in the process.
He also says tokenization could fix two other problems in traditional markets. First, trading hours. Robinhood already offers 24/5 stock trading in the U.S., but blockchain could make 24/7 trading a built-in feature rather than a workaround.
Second, asset transfers. Moving assets between traditional brokers can take days. Blockchain-based tokens can move between compatible wallets much faster.
The U.S. Regulatory Gap
The core problem is that U.S. securities laws were written around centralized exchanges, brokers, and clearing systems. Putting a stock on a blockchain does not remove those legal requirements.
The SEC has recently started reviewing parts of that structure. In June, it proposed removing a rule that protects orders from receiving inferior prices across trading venues. Regulators cited technological changes as reducing the rule’s usefulness.
Tokenized equity trading is growing fast globally. Onchain tokenized equity volume reached roughly $9 billion in 2026, up more than 800% year to date.
Robinhood is building for that growth. Tenev sees the larger opportunity as using crypto infrastructure to power conventional finance, not just native crypto assets.
“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,” Tenev said.
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