Robinhood Markets Inc.’s tokenized stocks are being used as liquidity assets for memecoin trading on Robinhood Chain, with related volumes reaching about $440 million, Bloomberg reported on Oct. 2. The tokens are digital securities designed to track individual shares and backed one-for-one by stocks held by custodians, but their use in direct memecoin pools turns equity exposure into infrastructure for onchain speculation. On Sept. 2, memecoin-stock token trading reached $217 million, exceeding the $127 million recorded in direct stock-token trading that day. Robinhood Chain went live on mainnet on July 1, 2026, to support tokenized stocks and other real-world assets. Reported activity included tokens tracking an S&P 500 ETF, Nvidia, SpaceX and Meta, whose combined market value reached about $69 million at one point. In one notable case, BONER accumulated roughly 53% of the tokenized HIMS float, sending the tokenized stock far above the underlying share’s closing price. The activity highlights risks involving price tracking, liquidity and market structure as Robinhood pursues tokenized-asset markets. The U.S. Securities and Exchange Commission has previously granted temporary exemptions for certain forms of onchain trading in tokenized U.S. stocks under specified conditions.