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Robinhood Rallies 26% on Tokenized Stock Launch, Faces EU Backlash

Robinhood Markets ($HOOD) soared nearly 26% over the past month, propelled by bold moves into blockchain-based tokenized equities and crypto infrastructure.

The company recently unveiled a new platform in the European Union that allows users to trade over 200 tokenized U.S. equities and ETFs. Built on Arbitrum, these products offer synthetic exposure—not ownership rights—to major public and private firms, including OpenAI and SpaceX.

While the move has excited crypto-native investors and pushed Robinhood stock as high as $95, regulators in the EU have raised red flags. The Bank of Lithuania is now investigating the legality and disclosure standards of Robinhood’s tokenized offerings. OpenAI also distanced itself from the tokens, warning investors of potential misinformation. Elon Musk added fuel to the fire by publicly calling OpenAI’s equity “fake.”

The company insists the tokens are merely derivatives tracking market prices and aren’t tied to real equity. Still, critics argue that retail investors may be misled by unclear language and a lack of investor protections—especially given the tokens’ unregistered nature and lack of governance rights.

On the business side, Robinhood’s aggressive crypto expansion continues. It finalized its acquisition of Bitstamp, gaining access to over 50 global licenses. This positions Robinhood to offer institutional services like staking, lending, and high-volume trading tools.

Robinhood’s financials show impressive growth: revenue jumped 60% to $3.3 billion in the past year, with quarterly growth at 50%. Its operating income reached $1.3 billion, and the net margin sits at a strong 48.8%.

However, some analysts remain cautious. With a lofty price-to-sales ratio of 24.1 and P/E of 49.5—both far above market averages—Robinhood’s stock could be vulnerable if sentiment shifts.

Nonetheless, its hybrid model of traditional trading and blockchain innovation is attracting both investors and institutions bullish on the future of tokenized finance.

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Hyperliquid ($HYPE) Slips Below $38: Bearish Signal Intensifies

Hyperliquid’s native token, $HYPE, took a sharp 3.4% dip in the last 24 hours, breaking below a crucial $38 support level. This move confirmed a triple-top breakdown, with repeated rejections at the $43 resistance zone now signaling a broader bearish trend.

Trading activity surged, with volume up by 37% to $270 million. Analysts flagged a significant -14.6K delta in one candle — a clear sign of aggressive sell-side pressure. This coincided with a breakdown from the $37–$43 range, previously seen as a key consolidation zone.

Despite the technical weakness, Hyperliquid remains a dominant force in the DeFi derivatives space. With over $1.57 trillion in annual perpetuals volume and $56 million in June revenue, it outpaces several leading blockchains in fee generation.

Institutional players are taking notice. HYLQ Strategy Corp. acquired over 3,500 $HYPE tokens recently, and Hyperliquid’s recent launch of CoreWriter, a HyperEVM-compatible smart contract layer, signals a new wave of dApp innovation.

Furthermore, integrations like Maple Finance accepting $HYPE as collateral, and Okto Wallet’s native mobile app launch, suggest Hyperliquid is far from slowing down.

Technically, however, the road ahead looks choppy. Unless bulls can reclaim the $40+ territory with conviction, the next support lies around $31–$32, aligning with the measured move from the broken rectangle pattern.

With a solid foundation but clear chart weakness, $HYPE’s next moves could define its short-term market direction.

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The Bitcoin treasury playbook that once dazzled Wall Street may be showing signs of exhaustion. James Check, lead analyst at Glassnode, issued a cautionary statement suggesting the corporate Bitcoin treasury strategy might be nearing the end of its golden era.

In a recent post on X, Check said that early adopters like Michael Saylor’s Strategy, which now holds nearly 600,000 BTC, are uniquely positioned to benefit from the early-mover advantage. But newer firms jumping on the BTC bandwagon may struggle to stand out.

“Nobody wants the 50th Bitcoin treasury company,” Check warned, pointing out that the novelty has worn off and the market is entering a “show-me” phase where serious differentiation is required. He suggested that many latecomers may fail to sustain a stock premium above their Bitcoin holdings’ net asset value (NAV).

This view was echoed by Taproot Wizards’ Udi Wizardheimer, who slammed many new entrants as opportunists chasing short-term gains. Venture firm Breed also released a report warning that only a few treasury-driven firms are likely to survive long-term without falling into a dilution death spiral.

Even as Bitcoin nears all-time highs, the growing skepticism highlights that BTC balance sheets alone no longer impress investors—execution, transparency, and strategy matter more than ever.

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Ethereum is quietly attracting massive institutional attention, even as its price struggles to reclaim the $2,600 level. U.S.-listed spot Ethereum ETFs just recorded a daily inflow of $148.57 million, the second-largest since February, with an 8-week cumulative total nearing $2 billion—a strong vote of confidence in ETH’s long-term value.

Public companies like SharpLink Gaming and BitMine are accumulating Ethereum as a treasury asset, while Robinhood’s launch of tokenised US stocks on Arbitrum brings real-world utility to Ethereum’s Layer 2 ecosystem.

Despite this bullish institutional backdrop, Ethereum’s technical setup remains mixed. A looming weekly death cross and over $56 million in long liquidations hint at downside risk. However, ETH is still trading within a rising channel, and holding support at $2,474 could open the door for a breakout above $2,855, targeting $3,500 or more.

Meanwhile, Bitcoin Hyper ($HYPER)—a Bitcoin-native Layer 2 powered by Solana’s SVM—has crossed $1.92 million in its public presale, with fast smart contracts, BTC bridging, and meme coin creation among its standout features. Backed by a full audit and real utility, $HYPER is emerging as a key Layer 2 player for 2025.

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In a significant step toward mainstream asset tokenization, Mercado Bitcoin, one of the largest crypto exchanges in Latin America, is set to tokenize $200 million worth of real-world assets (RWAs) using the XRP Ledger (XRPL). The initiative will include a mix of fixed-income and equity assets, transforming traditional instruments into blockchain-based tokens with improved accessibility and transparency.

Announced by Ripple on Friday, the integration is positioned as a major validation of public blockchain infrastructure for regulated financial products. Silvio Pegado, Managing Director of LATAM at Ripple, stated that Mercado Bitcoin’s move “demonstrates growing institutional trust in XRPL as a foundation for modern finance.”

This development aligns with broader market forecasts, including a Boston Consulting Group report predicting a $19 trillion RWA tokenization market by 2033. As the U.S. lags behind in regulatory clarity, global players like Ripple are seizing the opportunity to lead the RWA revolution.

Other recent moves in the space include Ondo Finance’s acquisition of Oasis Pro and Centrifuge’s plan to tokenize the S&P 500 index, highlighting a race to bring traditional assets on-chain.

Ripple’s collaboration with Mercado Bitcoin sends a clear message: the future of finance is decentralized, tokenized, and borderless.

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DeFi Development Corp. (DFDV) saw its stock skyrocket 17% on Thursday after disclosing a $2.7 million purchase of Solana (SOL), bringing its total holdings to over 640,585 SOL, worth approximately $98 million. The company acquired 17,760 SOL at an average price of $153.10 as part of its aggressive crypto treasury strategy.

The bullish move fueled investor excitement, with DFDV stock closing at $23.80 and ticking up another 0.8% in after-hours. The two-day rally totals nearly 30% from Wednesday’s low of $18.47, although the stock is still trading 33% below its May high of $35.53. Year-to-date, the stock has exploded over 2,700%.

In a shareholder letter dated July 2, DeFi Development Corp. said it will stake the newly acquired SOL tokens and plans to hold long-term. The company also outlined a $112.5 million capital raise, with $75.6 million earmarked for a prepaid forward stock purchase and the remainder allocated to general corporate needs, including more Solana buys.

Despite reporting a 30% revenue decline and 15.5% drop in profit margin in its last earnings report, the firm is doubling down on Solana. It previously withdrew a proposed $1B SOL investment after regulatory complications, but continues to push forward with new strategies.

Sol Strategies Also Deepens Solana Exposure

Canadian digital asset firm Sol Strategies is following a similar path. With over 420,000 SOL already held, the company is positioning itself as a major institutional player in the Solana ecosystem. Sol Strategies recently filed to list on the Nasdaq Capital Market under the ticker “STKE” and locked in a $500 million convertible note facility to buy and stake more SOL.

The firm also filed a $1 billion shelf prospectus in Canada and plans to maintain governance flexibility by operating as a foreign private issuer. Both companies see Solana’s role in asset tokenization and blockchain infrastructure as pivotal for future growth.

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