Robinhood increased by 8% and topped the $100 mark at one time, currently trading at $98.83, reaching another all-time high.

The rally comes on the heels of Robinhood's announcement last week that it had launched an Arbitrum-based tokenized stock trading platform in 31 European countries. The platform initially offers over 200 US stocks and ETFs, with plans to expand to equity tokens of unlisted companies such as SpaceX and OpenAI. This move positions Robinhood at the forefront of the growing trend of tokenizing traditional financial assets.

Investors appear particularly enthusiastic about Robinhood's strategic positioning in the evolving landscape of digital asset trading. The company's approach of leveraging its Lithuanian MiFID securities license to purchase and custody real stocks, coupled with its proprietary custody-mint-trade closed-loop process, has set it apart from competitors. This model not only ensures regulatory compliance but also provides a seamless integration of traditional finance with blockchain technology.