【Robinhood Tokenization Collision Regulation: The Underlying Tension Before the 100 Yuan Threshold】

Robinhood has recently made a bold move: launching over 200 "Stock Tokens" for EU users, allowing them to "buy" shares of companies like OpenAI and SpaceX, which are not publicly listed. Shortly after the news broke, OpenAI posted to clarify that they are not collaborating, and EU regulators quickly intervened to inquire. On the surface, this appears to be Robinhood's gamble to seize the asset tokenization market; on a deeper level, it represents a direct clash between international expansion and compliance red lines.

Fundamentally, Q1 total revenue increased by 50% year-on-year, with interest income accounting for over 31%; if Q2 continues to maintain double-digit growth, the market may shift its valuation anchor from brokerage PE to FinTech PS. The earnings report is scheduled for July 30, and the SayTech platform will open for shareholder questions on July 23.

The options market reveals another underlying line: on the 30th, the IV was only 77%, with an IV Rank below 50, but the Put/Call transaction volume dropped to 0.34, and near-month 90/95 C openings were active. The bulls are positioning themselves but have not raised volatility, indicating that funds are betting on "earnings report volume + breaking 100" rather than pure enthusiasm.

👉 Do you think tokenization can become Robinhood's next growth engine? Looking forward to chatting in the comments! #Robinhood