#Bernstein
4 articles tagged #Bernstein — curated RWA tokenization coverage.
Bernstein says Circle’s growth cycle can continue without the Clarity Act, sees 59% upside
Bernstein analysts project that Circle can maintain its growth trajectory for USDC even in the absence of the Clarity Act, citing a robust rebound in stablecoin supply and expanding transaction volumes. The firm maintains an optimistic outlook, forecasting a 59% upside potential for the company as it solidifies its market position. This growth is driven by increasing demand for stablecoins as a primary settlement layer for digital assets and cross-border payments. By leveraging its existing infrastructure and regulatory compliance, Circle continues to capture significant market share despite the legislative uncertainty surrounding the Clarity Act. The analysis highlights that the fundamental utility of USDC as a bridge between traditional finance and blockchain ecosystems remains the primary catalyst for its adoption. This development underscores the resilience of stablecoin issuers who are successfully scaling operations through organic market demand rather than relying solely on specific regulatory tailwinds. For the broader RWA market, this suggests that stablecoin liquidity will remain a critical foundation for the tokenization of real-world assets.
HOOD Could Rally 85% as Tokenization, Prediction Markets Fuel Crypto Growth: Bernstein
Bernstein analysts have identified Robinhood Markets Inc. as a significant player in the evolving financial infrastructure landscape, projecting an 85% upside for the stock. The firm is shifting its focus from simple crypto trading toward tokenization and blockchain-based services to diversify revenue streams. Key growth drivers include the Robinhood Chain, which has facilitated over $12 billion in decentralized exchange volume and 150 million transactions. Additionally, the platform's Robinhood Earn product has successfully attracted more than $200 million in deposits. Despite a 40% decline in crypto trading revenue during the second quarter, management remains committed to long-term growth through product expansion. The company is also scaling its prediction market business, Rothera, which processed 3.5 billion contracts and generated $17 million in quarterly revenue. This strategic pivot toward tokenized equities and broader financial infrastructure aims to increase U.S. household equity ownership from 65% to over 90%.
Bernstein raises Robinhood price target, cites tokenization and prediction markets
Bernstein analysts have raised their price target for Robinhood Markets from $130 to $160, citing the brokerage's strategic pivot toward tokenized equities and prediction markets. This shift aims to reduce reliance on traditional crypto trading by leveraging Robinhood Chain, a proprietary layer-2 network built on Arbitrum. By developing its own blockchain infrastructure, Robinhood intends to offer on-chain financial products independently of third-party providers. Bernstein projects that the total value of on-chain real-world assets will surge from $35 billion to between $2 trillion and $4 trillion by 2030, with tokenized equities playing a central role. This institutional momentum is further evidenced by recent collaborations, such as the integration of Broadridge’s governance tools into Alpaca’s Instant Tokenization Network. Additionally, Securitize and Cantor Fitzgerald have partnered to build infrastructure for blockchain-based IPOs, signaling a broader industry move toward regulated on-chain securities. These developments underscore the transition of tokenization from a niche experiment to a foundational layer for global capital markets.
Tokenized Real-World Assets Surpass $51 Billion as Race for Onchain Equities Heats Up
The market value of tokenized real-world assets has surged past $51 billion, representing a 40% increase year-to-date despite a 20% decline in broader crypto markets. Bernstein research indicates that institutional demand for onchain financial assets is decoupling from traditional crypto cycles, with private credit currently holding the largest market share. The number of RWA holders has grown by 60% to over 917,000, signaling significant retail and institutional adoption. The industry is currently bifurcating into two models: one focused on trading infrastructure for synthetic representations and another prioritizing direct ownership through blockchain-based shareholder ledgers. Companies like Coinbase and Robinhood are leading the former, while firms such as Figure, Bullish, and Securitize are developing the regulatory infrastructure for the latter. Annualized transfer volumes for tokenized equities reached $5.3 billion in June, reflecting a rapid acceleration from previous months. This growth suggests the RWA sector is reaching an inflection point where traditional assets are becoming as accessible as native cryptocurrencies, provided regulatory frameworks continue to evolve.