Analysts at Bernstein have lifted their price target on Robinhood Markets stock to $160 from $130 per share, maintaining an Outperform rating, as they argue the online brokerage’s next growth leg will come from tokenized equities and prediction markets rather than conventional crypto trading. HOOD shares were trading near $101 at the time of the note.
Prediction markets as the fastest-growing segment
In a Monday research note, Bernstein analysts said prediction markets are set to become Robinhood’s fastest-expanding business line. The firm projects that segment revenue will hit $1.7 billion by 2028, a 64% compound annual growth rate from current levels.
Robinhood Chain and tokenized real-world assets
Beyond prediction markets, Bernstein flagged tokenized equities as a major long-term opportunity, pointing to Robinhood’s proprietary blockchain infrastructure. The analysts highlighted Robinhood Chain, the company’s Arbitrum-based layer-2 network, as its dedicated rail for tokenized real-world assets. The setup lets Robinhood build on-chain financial products without depending on third-party blockchains.
Bernstein described tokenization as an emerging foundational layer for capital markets. The firm projects on-chain real-world asset value will scale from roughly $35 billion today to between $2 trillion and $4 trillion by 2030, with tokenized equities capturing a growing slice of that market as adoption moves beyond Treasury securities and private credit.
According to the analysts, Robinhood is competing across several key asset classes simultaneously, including prediction markets, perpetual futures, and tokenized RWAs.
Wall Street broadens tokenization infrastructure
The Bernstein upgrade arrived alongside wider institutional moves to build tokenization plumbing. On the same Monday, brokerage infrastructure provider Alpaca and financial technology firm Broadridge Financial Solutions announced an integration of Broadridge’s shareholder governance tools into Alpaca’s Instant Tokenization Network. The tie-up adds proxy voting, investor communications, and regulatory disclosures for tokenized securities, giving token holders governance rights on par with traditional shareholders.
That development followed a partnership announced the prior week between tokenization platform Securitize and investment bank Cantor Fitzgerald to develop infrastructure for blockchain-based initial public offerings and follow-on equity offerings within existing US securities regulations.
Tokenized stocks as an asset class have grown to nearly $2 billion in market value this year, according to data from RWA.xyz.
