Citizens projects Robinhood Chain to generate $365M in revenue by 2027

Robinhood’s blockchain bet is starting to look less like a side project and more like a real business. Citizens analyst Devin Ryan has raised his price target on Robinhood Markets (HOOD) to $165 from $155, projecting that Robinhood Chain will generate roughly $365 million in net revenue in 2027.

That works out to approximately $1 million per day in net revenue. For a chain that only launched on July 1, 2026, those are the kind of numbers that make Wall Street sit up straighter.

How a brokerage app became a blockchain operator

Robinhood Chain is an Ethereum Layer 2 solution, which means it processes transactions off Ethereum’s main network while still inheriting its security guarantees. The chain uses ETH for gas fees and was designed primarily around tokenized real-world assets, particularly Stock Tokens that allow for continuous trading outside traditional market hours.

Memecoins and decentralized exchange trading volume have been the early growth engines. On certain days, Robinhood Chain’s daily fees have peaked above $4 million, occasionally surpassing the revenue generated by Solana. By early September 2026, Robinhood Chain had crossed $400 million in total value locked. Its annualized DEX volume hit $200 billion, a figure that places it firmly in the conversation with much older networks.

The revenue-sharing math

Ryan’s $365 million projection assumes Robinhood crosses an 85% revenue-sharing threshold with Arbitrum, the technology stack underlying the chain. Under the current arrangement, Arbitrum collects 10% of net sequencer revenue from Robinhood Chain. That 10% gets split: 8% flows to the Arbitrum DAO treasury and 2% goes to the Developer Guild.

So for every dollar Robinhood Chain generates in sequencer revenue, roughly $0.90 stays with Robinhood after crossing that higher revenue-sharing tier. At the projected run rate, that translates to about $1.2 million in underlying daily sequencer revenue before the Arbitrum cut.

Ryan maintained his Market Outperform rating alongside the price target increase.

Beyond memecoins: the expansion playbook

Analysts see Robinhood Chain’s revenue mix broadening over time, with prediction markets and perpetual futures as two categories that could meaningfully contribute to growth.

The tokenized stock angle remains the longer-term strategic play. Allowing equities to trade 24/7 on a blockchain, with the ability to use them as collateral in DeFi protocols, represents a genuine structural improvement over traditional market infrastructure. Settlement happens in minutes rather than the T+1 standard that took US markets decades to adopt.

What this means for Robinhood and its competitors

Other analysts have been more conservative, forecasting near-term revenues in the tens of millions with hundreds of millions as a longer-term possibility.

For Arbitrum, the arrangement validates its strategy of licensing its technology to major financial players. The 10% revenue share creates a recurring income stream for the DAO without requiring Arbitrum to build consumer-facing products.

Coinbase has its own L2 in Base, which launched earlier and has built substantial developer mindshare. Robinhood brings a retail brokerage user base that already trades stocks, options, and crypto in a single app.

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