Robinhood L2 Clocks 17M Txns, 350K Wallets in Week One as Agent-Trading Expands to Crypto
Robinhood Chain's opening-week throughput lands as ETH trades $1,799, longs dominate perps 62.3/37.7 and agent accounts top 70,000.
Robinhood Chain, the exchange’s new Ethereum layer-2 rollup built around real-world-asset tokenization, posted roughly 17 million transactions from about 350,000 wallet addresses in its first seven days live. Johann Kerbrat, SVP and general manager of Robinhood’s crypto unit, flagged that throughput as an early signal of user demand for the network.
The launch overlaps with ETH trading at $1,799.41, up a marginal 0.03% on the day, with 24-hour volume at $5.24 billion. Derivatives positioning skews long: perpetuals show 62.3% long versus 37.7% short, and funding sits at +0.0013% in favor of longs — a mildly constructive tilt inside a risk backdrop that’s otherwise cautious, with the Fear and Greed Index at 26 and BTC dominance holding at 69.7% of a roughly $1.85 trillion total crypto market cap.
Agent accounts scale past 70,000 ahead of crypto rollout
Robinhood is extending an existing agent-trading product — live for equities since a May 27 beta — into digital assets for eligible US customers. The setup lets a user fund a dedicated account that a third-party AI trading bot can access to execute a custom strategy inside user-set risk limits, with the connection revocable at any point. Connected agents route through Robinhood’s Model Context Protocol servers and inherit the same real-time P&L tracking and push notifications already running on the equities side.
Adoption on the equities track has been fast: more than 70,000 agent accounts have opened since launch, according to a Robinhood executive. The company sources agents from Anthropic, OpenAI and xAI’s Grok, and runs a parallel channel letting agents make credit-card purchases on a user’s behalf. Eligible users can already point agents at crypto-mining equities; altcoin and broader crypto trading are positioned as the next asset class to open, though no launch date has been set — UK customers will get access after the US rollout.
Competitive backdrop and regulatory pressure
Coinbase launched a comparable agent platform in June, allowing users to connect software agents for trading, payments and automated tasks — putting the two exchanges on a similar trajectory toward autonomous on-chain execution. Robinhood CEO Vlad Tenev has argued that AI agents will increasingly compete with human investors by monitoring markets continuously and trading around the clock with minimal human input.
That trajectory is drawing legislative attention. In June, Democrats on the House Financial Services Committee sent 13 questions on agent-based trading to the SEC, with a July 31 response deadline. Representatives Bill Foster and Brad Sherman warned that agents trained on similar datasets could herd — moving in the same direction simultaneously and amplifying volatility — and asked how liability would be apportioned between brokerages and the developers building the agents.
The regulatory scrutiny arrives alongside a broader industry thesis that AI agents will become primary users of blockchain payment rails. Circle’s Jeremy Allaire and Coinbase’s Brian Armstrong have both projected autonomous agents will account for a rising share of on-chain transaction volume within a few years, a trend Robinhood Chain’s opening-week numbers appear to be testing in real time.
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