Robinhood’s Tokenized Stocks Threaten NYSE Fee Revenue, Galaxy Digital Warns

Galaxy Digital has warned that Robinhood’s initiative to tokenize stocks through its forthcoming blockchain—dubbed “Robinhood Chain”—could redirect liquidity from centralized exchanges such as the NYSE. This shift threatens key revenue streams derived from trading fees and market-data sales. At EthCC 2025, Robinhood CEO Vlad Tenev introduced th...