A stock token is a token that represents a share. Robinhood issues nearly two hundred of them on Robinhood Chain, from SPY and NVDA down to small names. Each one is a contract, and each contract knows exactly how many tokens exist. That number, the total supply, is the most useful thing on the chain about it.

Supply is shares that exist on-chain

When someone wants a stock token and none is available, new tokens are minted. When someone hands tokens back, they are redeemed and burned. So supply moves only when exposure is created or destroyed. A token can trade all day between holders and its supply will not change at all.

That makes supply different from volume. Volume counts shares changing hands. Supply change counts shares arriving or leaving. The second is the one that tells you whether demand for on-chain exposure to a name is growing.

Flow is the change

Take supply now, subtract supply a day ago, multiply by the price, and you have the day’s net flow in dollars. Positive is net minting. Negative is net redemption. Do it over a week and you have the trend.

Two details keep the number honest. First, the window is stated. If there is only twelve hours of history, the flow is a twelve-hour flow and says so. Second, a supply that could not be read on a given pass is recorded as unknown. Recording it as zero would show the entire float being redeemed and minted back an hour later.

The weekend is quiet, and that is information too

On Sunday 4 October 2026 every stock token showed zero flow. Robinhood mints and redeems against the stock market, and the stock market was shut. A flat weekend tells you the plumbing follows market hours even though the token trades around the clock, which is the two-clocks problem from tokenised stocks and a tape that closes.

Size, today and later

The largest token that day was SPY, at about $22 million of shares on-chain. Against a fund that trades tens of billions of dollars a day that is small. The reason to watch it now is that the record cannot be rebuilt later. Robinhood publishes a token’s quote and today’s mint and burn, and nothing about yesterday. Whoever wants the history has to have been collecting it.

Where to see it

The Stocks On-Chain tab on the NoVo Crypto Market Map lists every stock token with shares on-chain, tokenized value, flow over a day and over a week, and Robinhood’s own mint and burn figure for today. The Trader dashboard carries the same read for SPY, QQQ and the largest index names.