Bernstein: Robinhood Chain Generates $33M in Fees Over 15 Days, Price Target Up 31%

TechFlow reports that, according to Chaoxiang Research, Bernstein's research report dated September 8, 2026 indicates that Robinhood Chain has rapidly become a revenue engine since its launch on July 1. Over the past 15 days, it generated approximately $33 million in fees, ranking first among all blockchains, far surpassing Solana (approximately $11 million) and BNB Chain (approximately $9 million). Daily transaction fees on the chain range from $2 million to $4 million, with Robinhood retaining roughly 90% of the revenue. Bernstein maintains an "outperform" rating with a price target of $160, implying approximately 31% upside from the current stock price.

Regarding on-chain data, the total value locked stands at approximately $1.5 billion, and cumulative DEX trading volume exceeds $50 billion. The value of tokenized stocks has risen from approximately $10 million to $140 million; stablecoin supply has reached approximately $1 billion, a substantial increase from $241 million at the beginning of July. Bernstein projects that annual fee revenue on the chain could reach $160 million by 2028.