Robinhood's tokenized stocks already near SEC volume limits

• —The SEC's five-year exemption, granted Sept. 17, 2026, caps tokenized symbols and trading volumes
• —Robinhood's stock tokens are issued as debt securities via a Jersey entity and sold in 120+ countries, but not in the US
• —Kerbrat said tokenized equity volumes are already high enough to hit some of the exemption's limits
• —Robinhood plans in-kind redemption and voting rights, a roadmap predating its public spat with AMC's CEO