Alex Markgraff at KeyBanc Capital Markets was similarly bullish. KeyBanc reiterated an Overweight rating for Robinhood and nearly doubled its price target to $110 from $60, reflecting both the announcements and data about the performance of existing products during the current quarter.

The tokenized versions of U.S.-listed stocks and ETFs are first available to EU users and are issued on Arbitrum, with future plans to deploy them on the firm's own blockchain.

Co-founder and CEO Vlad Tenev said Robinhood's new offerings "lay the groundwork for crypto to become the backbone of the global financial system." Shares of Robinhood Markets jumped a further 5% Monday morning to about $98 after touching a record $99.06 soon after markets opened. They are up more than 160% in 2025.