Arcus, a decentralised exchange built by the team behind dYdX, has announced the launch of leveraged, ETF-style contracts on Robinhood Chain that enable investors to amplify their exposures while using assets as collateral.
The firm writes that the launch comes as institutions increasingly look to make tokenised assets productive rather than let them sit idle as collateral.
Tokenised collateral mobility could help financial institutions reduce liquidity buffers, lower capital requirements and navigate periods of market stress more effectively, and 52 per cent of global financial institutions expect to be actively managing live tokenised collateral by the end of 2026, the firm says.
“Despite that momentum, traders holding tokenised stocks have largely had to sell those positions before they could use them as collateral for perpetuals trading.
“The roll-out is the first on-chain product that mimics leveraging tied ETF in traditional asset classes by transforming managed perpetual accounts on Arcus into tokenised and transferable on-chain assets, allowing holders to maintain positions by leveraging existing positions. The contracts are accessible via the newly-launched pToken, that tokenises an Arcus perpetuals account into an ERC-20 on Robinhood Chain, so that shares in what that account holds can trade freely on spot venues.
“Each pToken represents a pro-rata ownership stake in an underlying Arcus perpetuals account at a fixed market and leverage level, packaging complex derivative exposure into a simple, transferable ERC-20 asset. Traders can buy or sell pTokens like other spot assets while accessing leveraged and inverse exposure without directly managing a perpetuals account, collateral or margin. The launch expands access to assets such as BTC, SOL, HYPE and other digital assets, as well as leveraged versions of tokenised Stock Tokens, including preliminary tokens pBTC and pBTC3x, offering 1x and 3x long and short BTC exposure, and pHOOD3x, offering 3x long HOOD exposure.”
“Traditional markets have spent decades making sophisticated investment strategies easier to access through products like leveraged ETFs. We believe the next step is making those strategies native to blockchain infrastructure. With pTokens, we’re transforming managed perpetuals accounts into transferable on-chain assets, creating a new way for traders to access leveraged exposure while expanding what’s possible for tokenised markets,” says Eddie Zhang, Founder and CEO of Arcus.
