[Robinhood tokenization collision regulation: Underlying turbulence before the 100 yuan threshold]

Robinhood recently made a big move: launching over 200 "Stock Tokens" for EU users, allowing the purchase of even non-public companies like OpenAI and SpaceX. Shortly after the news broke, OpenAI posted to clarify that there was no collaboration, and EU regulators quickly intervened to inquire. On the surface, this seems to be Robinhood's gamble to seize the asset tokenization market; on a deeper level, it represents a direct clash between international expansion and regulatory compliance.

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 30th, and the SayTech platform will open for shareholder questions on July 23rd.

The options market reveals another underlying trend: the 30-day IV is only 77%, the IV Rank is below 50, but the Put/Call trading volume has dropped to 0.34, and the near-month 90/95 C open interest is active. The bulls are positioning themselves, yet it has not driven up volatility, indicating that funds are betting on "earnings report expansion + breaking 100" rather than purely exuberance.

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