Robinhood Shares Climb Higher as Brokerage’s Latest Strategic Initiatives Pick Up Momentum

Table of Contents Robinhood Markets Inc. shares extended gains in overnight trading late Thursday after HOOD stock closed more than 16% higher during the regular session. The move came as the company reported strong early demand for its trust accounts and rapid activity on Robinhood Chain. Robinhood Markets, Inc., HOOD The updates gave traders company data as Robinhood broadened its services across brokerage, estate planning, tokenized assets, and blockchain trading. CEO Vlad Tenev said customers have deposited more than $150 million into Robinhood Trust Accounts since the product launched in August. The average account size stands near $500,000, showing that the service has attracted customers with larger investment balances. Robinhood created the trust accounts for revocable living trusts, allowing trustees to manage stocks, options, and other investments within an estate planning structure. The product expands the company’s services beyond basic brokerage accounts used by individual investors. Tenev said Robinhood first built its platform around new investors but now wants to serve customers as their financial needs change. The trust account launch gives the company another product aimed at users with growing wealth and longer-term planning needs. Robinhood also reported rising activity on Robinhood Chain, its permissionless Ethereum Layer-2 network built with Arbitrum technology. The company said the network has recorded $34.6 billion in total decentralized exchange trading volume since launch. Robinhood Chain has also reached $1.27 billion in total value locked. The network has processed 576 million transactions across 12.3 million addresses, according to company data shared on X. More than 190 stock tokens are now active on the network. Those tokens have generated over $3 billion in cumulative decentralized exchange volume, while perpetual trading on Lighter has reached $7.29 billion. HOOD stock also drew attention from angel investor Jason Calacanis. He said on X that he has not sold any Robinhood shares since his early investment in the company. Calacanis said he bought additional HOOD stock near $10 and set a personal price target of $1,500 by 2036. That target would place the shares at roughly 12 times the current price over the next decade. Robinhood has not provided guidance tied to that target. The comment reflects one investor’s long-term view and does not represent company guidance or a consensus forecast from Wall Street analysts. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.