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Bernstein sees 31% upside for Robinhood on Robinhood Chain fees

Bernstein projects Robinhood Chain could generate about $160 million in annual fees by 2028, after roughly $33 million in fees in its first 15 days.

Reported · Written up by our desk · Market Structure

Bernstein analysts reiterated an Outperform rating on Robinhood Markets and set a $160 price target, pointing to Robinhood Chain as a new earnings driver as trading fees grow.

According to The Block, the analysts said Robinhood Chain has accumulated about $39 million in cumulative fees since launch and could reach an estimated $160 million in annual fees by 2028.

The note attributed the early momentum to Robinhood Chain’s quick scale after its July 1 launch, including about $1.5 billion in total value locked, more than $50 billion in DEX volume, and trading fees tracking at roughly $2 million to $4 million per day.

Bernstein also highlighted competitive fee performance, saying the network led all chains over the past 15 days with about $33 million in fees, ahead of Solana at about $11 million and BNB Chain at about $9 million, with Robinhood keeping about 90% of those fees.

Latest closeSolana $118.28 ▼0.7%|BNB $769.58 ▲1.5%

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