Key Notes
- The stock rally coincided with US House passage of two major crypto bills addressing market oversight and stablecoin regulation.
- Robinhood’s recent European launch of tokenized US stocks trading has fueled investor optimism about digital asset adoption.
- Market analysts warn that severe liquidity constraints in the $27 million tokenized equities market could limit widespread adoption.
Robinhood (HOOD) stock briefly hit $112 on Friday, July 18, surging to a new record high and pushing the company’s market capitalization beyond the $100 billion threshold. The milestone marks a 38% gain over the past 30 days, according to Nasdaq data.
The rally began when HOOD stock broke through the $100 barrier just days after the platform announced the launch of tokenized US stock trading feature for Europe in early July.
Robinhood Price Action | July 18
The latest HOOD price uptick comes amid bullish tailwinds from Washington, as US lawmakers advanced a long-awaited regulatory framework for cryptocurrencies.
The BBC reported that the US House of Representatives passed two major bills late on Thursday: the CLARITY Act, which addresses crypto market oversight, and the GENIUS Act, which establishes a stablecoin regulatory policy.
With Bitcoin price still consolidating below $120,000 amid active capital rotation toward altcoins, HOOD shares gained another 4% on Friday, peaking at $112 before retracing slightly to $109 at press time.
Analyst Says Liquidity Risks Could Hamper Tokenized Stocks Market
Robinhood’s stock price rally to $100 billion valuation on Friday has ignited speculation that US crypto bill legislation may deepen adoption of its recently-launched tokenized US equities trading feature.
However, leading market analysts urge caution. In a post on X, Kaledora Kiernan-Linn, founder of on-chain leverage trading platform Ostium, warned that tokenized equities face severe liquidity limitations.
the problem with all the tokenized solutions is they have zero liquidity
you pay roughly 97x more to trade tokenized TSLA xStock on jupiter (eg ~$41k vs. ~$427), for instance, than through synthetic stock perps on @ostiumlabs – some examples:
1. TSLAx (Solana)
– the TSLA/USDC… pic.twitter.com/d0UZyxg2EF
— kaledora (@kaledora) July 1, 2025
According to CoinMarketCap, the total market capitalization of tokenized stock assets currently sits below $27 million, representing a fraction of the trillions in underlying equity value from blue-chip stocks like NVIDIA, Microsoft, and Apple.
Tokenized Equities Market Capitalization | Source: CoinMarketCap
“Unlike stock perpetuals, tokenized equities offer zero leverage,” Kiernan-Linn noted, explaining that most existing tokenized equity platforms do not enable margins and risk exposure of traditional markets.
In summary, Robinhood’s 38% price rally in the last 30 days reflects bullish bets on the tokenization trend. However, based on expert insights, liquidity constraints and trading limitations could slow widespread adoption. It remains to be seen if Friday’s $100 billion cap will mark a temporary peak or form a local support for another leg up.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
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