Arbitrum’s token surged by 17% in 24 hours amid growing speculation that the Ethereum layer-2 network is set to partner with Robinhood Markets Inc., with an announcement expected on Monday.

Robinhood posted on X that a fireside chat would take place featuring Ethereum co-founder Vitalik Buterin, Robinhood Crypto’s general manager Johann Kerbrat, and Offchain Labs’ chief strategy officer A.J. Warner. The event, hosted by Robinhood Europe in Cannes, is being promoted as the company’s biggest crypto announcement of the year.

This speculation follows a Bloomberg report from May 8 stating Robinhood was developing a blockchain platform to enable European investors to trade U.S. stocks. At the time, both Arbitrum and Solana were reportedly being considered for the initiative.

Former Ethereum core developer Eric Connor commented on X, “Looks like Robinhood chose Arbitrum,” while Dragonfly partner Omar Kanji added, “Pure speculation, but imo Ethereum + Arbitrum + RH only means one thing. Robinhood going to announce its chain tomorrow.”

Following Robinhood’s post, ARB jumped from 31 cents to a high of 38.6 cents within eight hours on Sunday night, marking the largest daily gain in the crypto market, according to CoinGecko. Despite the rally, the token remains down nearly 50% year-to-date and 85% below its January 2024 high of $2.39.

Robinhood’s stock also rose overnight, gaining 1.65% to trade at $84.26 after closing at $83.03 on Friday, as excitement builds over the anticipated announcement.

Sources:

https://cointelegraph.com/news/arbitrum-gains-speculation-robinhood-partnership

https://www.bloomberg.com/news/articles/2025-05-07/robinhood-said-to-plan-blockchain-to-trade-us-assets-in-europe

https://x.com/TheOneandOmsy/status/1939352417918943661

https://x.com/RobinhoodApp/status/1939313739326537800

https://x.com/econoar/status/1939384575761023037

https://www.coingecko.com/en/coins/arbitrum

https://robinhood.com/us/en/stocks/HOOD/