Robinhood’s tokenized-stock trading activity is high enough to potentially encounter volume limits under the U.S. Securities and Exchange Commission’s five-year innovation exemption, Johann Kerbrat, the company’s senior vice president and general manager of crypto and international, said during Korea Blockchain Week 2026. The Sept. 17 framework permits qualifying venues to trade tokenized National Market System stocks through permissioned automated market makers and liquidity pools, subject to limits on eligible symbols and trading volume. Robinhood plans to expand coverage of U.S. stocks and ETFs and add voting rights and in-kind redemption to its Stock Tokens, whose current legal structure differs from the products covered by the exemption. Separately, Robinhood announced on Sept. 29 that it plans perpetual futures for Bitcoin, Ether, Solana, XRP, Dogecoin, Cardano, Chainlink and Hyperliquid for eligible U.S. customers in the coming months. Bitcoin and Ether will carry leverage of up to 10x, while Solana and the other five assets will be capped at 3x. Solana traded at $122 on Oct. 2, up 65% over two months but down 45% from a year earlier.