Robinhood Ventures Fund Crosses $1B In Market Cap: Retail Cheers OpenAI Bet

Cryptocurrency and blockchain-related stocks surged in premarket trading after U.S. President Donald Trump urged Congress to pass the Clarity Act, which would define cryptocurrency as a security or commodity. Bitcoin rose 3.4% to $71,700, and Ether gained 3.3%. Companies like Coinbase Global, Riot Platforms, and Canaan saw significant gains. The move follows the GENIUS Act's passage in July 2025, which established a regulatory framework for stablecoins.

Robinhood (HOOD) stock rose 5.0% to $100.60 in pre-market trading, driven by CEO Vlad Tenev's advocacy for tokenized equities and regulatory developments. Tenev called for a clear U.S. framework for tokenized equities, citing $9B in on-chain trading. President Trump's meeting with crypto executives and the Clarity Act also boosted sentiment. The rally is company-specific, with HOOD reclaiming $100 but still below its 52-week high of $153.86.

The U.S. Treasury announced it will double the amount of longer-term government bonds it buys back, starting Sept. 9. This decision aims to provide greater liquidity support to the bond market and may loosen financial conditions. Bitcoin rose 5.5% to $68,272.47. Crypto-related stocks also rallied: Strategy (MSTR) up 12%, Coinbase (COIN) up 11%, Circle (CRCL) up 10%, and Robinhood (HOOD) up 6%.

The SEC is reportedly preparing an “innovation exemption” framework to allow tokenized versions of Wall Street-listed stocks to be issued and traded on-chain, with a possible release as early as Friday, according to Bloomberg. The SEC plans an open meeting Friday on a tailored regime for certain crypto-related investment contracts. Tokenized equities are currently unavailable in the U.S.; Robinhood and Coinbase have launched tokenized stocks in Europe and the U.S., respectively.

Robinhood Markets (HOOD) reported Q2 FY2026 revenue of $1.3B (+32% YoY) and EPS of $0.62 (+48% YoY), beating consensus $0.42. Adjusted EBITDA was $741M (+35%). Management lowered 2026 OpEx and SBC outlook to $2.675B-$2.775B, said July trading was near record levels, and noted net cash of about $1B. Analysts raised targets, with BofA lifting to $140.

Robinhood Markets (HOOD) priced 8 million shares at $25 each for its NYSE-listed Robinhood Ventures Fund II (RVII), raising $225.5 million, according to the company. RVII targets early- and growth-stage private startups, including Y Combinator participants. The fund follows a March first fund and Robinhood said it is already working on later funds.