A stock token is a token on a blockchain that represents a share of a listed company or fund. Robinhood issues nearly two hundred of them on Robinhood Chain, covering stocks and ETFs. For a trader meeting them for the first time, the useful question is which parts behave like the share and which parts behave like any other token.
What it is
Each stock token is a contract on the chain. The contract keeps a ledger of who holds how many tokens, and it keeps one figure that anybody can read: the total supply. That is the number of tokens that exist, which for a stock token is the number of shares on-chain. The contract address is the token’s identity, a point made for coins in a ticker is not a token.
Robinhood publishes a live quote for each token, with a bid and an ask. It also publishes the underlying stock’s volume for the day, a halt flag, and the day’s mint and burn volume. Those items plus the supply are what an outsider can observe.
What it tracks
The token is meant to follow the share. Each token also carries a multiplier that adjusts for corporate actions. So the relationship between one token and one share is a stated factor, and it should be checked before the two prices are compared.
What it is not
A stock token is not a perp. A stock perp is a derivative with funding, leverage and a mark price, and it holds no shares. A stock token has no funding rate to read and no open interest. It also has no dealer gamma, because that belongs to the options on the share.
Nor is it the same thing as the share in a brokerage account. What a holder is entitled to is set by the issuer’s own terms. That covers dividends, voting, redemption, fees and who may hold the token at all. Those terms are the only reliable source. A reader who cares about any of those points should read them first, because nothing in the price data answers them.
Where it trades differently
A share trades on an exchange during set hours. A token sits on a chain that does not close. A few stock tokens also trade in on-chain pools, which price them all week. Most have no pool deep enough to price. So outside market hours many tokens have only a quote, and that quote goes wide. On Sunday 4 October 2026 the median spread across the list was 4%. What that does to a midpoint is covered in a wide quote is not a price.
How big it is
On 4 October 2026 all the stock tokens together came to about $160 million on-chain. The largest was SPY. That is small beside the stock market. It is also the early part of a record, and an early record is only useful if it is kept from the start.
Where to see it
The Stocks On-Chain tab of the Crypto Market Map lists every stock token with its price, tokenized value, shares on-chain, flow over a day and a week, the day’s mint and burn, and the pool price against the quote.