Robinhood Crypto is in discussions with T. Rowe Price Digital Assets about developing a Stock Token that would provide blockchain-based exposure to an actively managed exchange-traded fund. The asset manager oversees approximately $1.9 trillion in assets under management. If completed, the product would mark the first Robinhood Stock Token connected to a fund whose holdings are selected and adjusted by professional portfolio managers rather than a fixed index.

The proposed tokens would operate on Robinhood Chain, the company’s Ethereum layer-2 network built with Arbitrum technology. Robinhood Assets (Jersey) Limited, a private company based in Jersey, would serve as the issuer under the current framework used for existing products.

Existing Stock Token Structure

Robinhood already offers more than 190 Stock Tokens linked to individual equities and certain ETFs, including names such as Nvidia, Apple, Alphabet and the Invesco QQQ Trust. These instruments are structured as tokenized debt securities. Holders receive economic exposure to the price performance of the underlying assets but do not obtain direct legal ownership or voting rights.

The tokens follow the ERC-20 standard, trade around the clock on supported venues, incorporate on-chain price feeds and reinvest dividends through a multiplier mechanism rather than cash payouts. Each token is backed one-for-one by corresponding securities held with a U.S.-based custodian. The products remain unavailable to U.S. persons and face additional restrictions in Canada, the United Kingdom and Switzerland.

An actively managed ETF token would differ because the underlying portfolio can change according to the manager’s investment decisions, weightings and trades, rather than tracking a predetermined benchmark.

Preliminary Stage and Regulatory Conditions

Robinhood described the initiative as exploratory. Any resulting product would require completion of legal due diligence, approval from the relevant issuer’s board, agreement on final terms and regulatory clearances in the jurisdictions where the tokens might be offered. The company has stated that no assurance can be given that these approvals will be obtained.

Neither firm has named a specific actively managed ETF that would serve as the underlying reference, nor have they disclosed a potential ticker, fee structure, pricing details or launch timeline. Discussions involve T. Rowe Price Digital Assets, the investment manager’s digital asset unit.

Robinhood Chain’s public mainnet went live on July 1, 2026. Since then the network has supported trading of tokenized stocks and selected funds, with cumulative volume on certain decentralized venues reaching significant levels in subsequent months. The company continues to develop additional features for its tokenized securities, including potential enhancements related to voting rights and in-kind redemptions, though it has not confirmed whether those capabilities would apply to any future actively managed ETF product.

The collaboration remains subject to the same geographic limitations that currently apply to Robinhood’s existing Stock Tokens. No announcement has indicated whether an expanded set of markets would become available if the product advances.