Robinhood unlikely to launch its own token as Ethereum already powers its new chain

Robinhood’s new Robinhood Chain launched on July 1 as an Ethereum Layer-2 built on Arbitrum, and it uses ETH exclusively for gas fees. That design makes a native Robinhood token unnecessary for now, while potentially adding demand for ETH through network usage. The chain is focused on tokenized real-world assets, including US equities and ETFs, and is available to eligible users in more than 120 countries, with an early focus on the EU and EEA. The article also highlights broader competition in tokenized assets and notes Uniswap as a day-one partner. Overall, the piece is mildly bullish for Ethereum because Robinhood’s chain could increase ETH utility, but it is neutral on Robinhood token creation since the article argues no token is likely.