SGOL, issued by Robinhood Europe, UAB, is a tokenized-commodities derivative contract that gives onchain price exposure to abrdn Physical Gold Shares ETF, a U.S.-listed commodity-linked exchange-traded product, without conveying ownership of the underlying units [S1][S2][S3].

The token tracks the live price of abrdn Physical Gold Shares ETF (SGOL), with each token corresponding to one underlying unit [S1][S3]. Tokens are displayed in U.S. dollars and bought or sold in euros, and the holder bears a 0.10% foreign exchange fee on each order with no added spreads and no commissions from Robinhood [S4][S3][S5]. If the underlying issues a distribution and eligibility requirements are met, an equivalent cash amount is passed through in euros, free of the foreign exchange fee [S6][S2].

Robinhood Europe, UAB, company code 306377915, is a Lithuanian entity authorized and regulated by the Bank of Lithuania, offering these products under MiFID II as over-the-counter derivative contracts [S2][S1]. Each tokenholder's claim is contractual against Robinhood Europe rather than a right to the hedged units, which are held by a U.S.-licensed institution [S1][S2]. The product is available to eligible retail customers across thirty EU and EEA countries who pass KYC, AML and an appropriateness assessment [S5][S4]. There is no in-kind redemption; holders exit by selling in-app, with a T+1 withdrawal hold, and bear Robinhood's insolvency risk [S4][S1].

Tokens are issued natively on Arbitrum, an Ethereum Layer 2, and are recorded onchain when the derivative contract is entered [S5][S1]. They cannot be transferred to external wallets [S2]. Trading runs in-app from Monday to Saturday around the clock, with orders queued outside those hours, pricing tracks the U.S.-listed instrument, and sell proceeds settle for withdrawal at T+1 [S4][S3][S5].

<Sources
  retrievedAt="2026-06-18"
  items={[
    { id: "S1", url: "https://robinhood.com/eu/en/support/articles/about-stock-tokens/" },
    { id: "S2", url: "https://robinhood.com/eu/en/support/articles/stock-tokens-faq/" },
    { id: "S3", url: "https://robinhood.com/eu/en/invest/" },
    { id: "S4", url: "https://robinhood.com/eu/en/support/articles/buy-and-sell-stock-tokens/" },
    { id: "S5", url: "https://robinhood.com/us/en/newsroom/robinhood-launches-stock-tokens-reveals-layer-2-blockchain-and-expands-crypto-suite-in-eu-and-us-with-perpetual-futures-and-staking/" },
    { id: "S6", url: "https://robinhood.com/eu/en/support/articles/corporate-actions-for-stock-tokens/" },
  ]}
/>


# Asset senders (daily) methodology

## 1. Overview

Asset senders (daily) is calculated as the number of unique addresses that initiate asset transfers within a fixed 24-hour window. Daily activity is measured from 00:00 UTC to 23:59 UTC for each tracked asset. Active transactors are isolated from passive recipients by identifying only the sending addresses of transactions. This metric is utilized to evaluate the daily active user base and transaction utility of tokenized assets across multiple blockchain networks.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions, covering Solana
- **Aptos, Cardano, Stellar Classic, and Sui events**: Token withdraw events, covering Aptos, Cardano, Stellar, and Sui
- **Near, Algorand, Injective, Ripple, and Stellar Soroban events**: Token transfer events, covering Near, Algorand, Injective, Ripple, and Stellar
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet, covering Polkadot Asset Hub
- **Asset metadata**: Token addresses and chain configurations

## 3. Step-by-step calculation

### Component A: Extract sender addresses

- **Purpose**: Identify and extract the unique sending addresses for each asset transfer across all supported chains.
- **Logic**: On EVM-compatible chains, sending addresses are extracted from the `from` field of ERC-20 `Transfer` events, excluding the zero address to filter out mint transactions. On Solana, sending addresses are extracted from the authority address field of token transfer instructions. On Aptos, Cardano, Stellar Classic, and Sui, sending addresses are identified from the account address field of token withdraw events. On Near, Algorand, Injective, and Stellar Soroban, sending addresses are extracted from the sender address field of token transfer events, with null addresses excluded. On Ripple, sending addresses are extracted from token transfer events where the transfer value is negative. On Polkadot Asset Hub, sending addresses are extracted from the event data of `Transferred` events emitted by the `assets` pallet.
- **Key fields**: `timestamp` (block timestamp truncated to daily grain), `token_address` (the contract or asset identifier), `sender_address` (the address initiating the transfer)

### Component B: Consolidate and deduplicate sender data

- **Purpose**: Aggregate sender addresses across all chains and prepare the dataset for daily unique counting.
- **Logic**: Sender records from all individual chains are consolidated into a unified dataset. For each asset on each chain, the sending addresses are grouped by day. To prevent double-counting, duplicate sender addresses for the same asset on the same chain within the same 24-hour window are removed.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `sender_address` (unique sending address)

### Component C: Final aggregation

- **Purpose**: Calculate the final daily active sender count per asset and per chain.
- **Logic**: The consolidated dataset is aggregated to compute the daily active senders. Unique sending addresses are counted for each asset on a daily basis, both at the individual chain level and aggregated across all chains for multi-chain assets. If no transfer activity is recorded for a tracked asset on a given day, the daily sender count is filled with zero values.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `asset_dau` (daily active senders count)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique asset senders over a fixed 24-hour window.

Asset senders (daily)

Tokenized commodities

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Real-world asset (RWA) issuers

Robinhood

abrdn Physical Gold Shares ETF (Robinhood Classic Stock Token) (SGOL) is a token tracking gold, issued by Robinhood through Robinhood Europe, UAB.

Each token tracks one troy ounce of gold and is a synthetic instrument that provides contractual exposure to the reference asset.

Retail investors and professional investors can mint and redeem directly with Robinhood after completing KYC, and holders have a contractual right to redeem, with same- or next-business-day settlement.

Robinhood Europe, UAB is incorporated in Lithuania, is a MiFID II financial instrument, and is supervised by the Bank of Lithuania.

Holder terms are governed by the law of Lithuania.

SGOL has been issued on Arbitrum One as an ERC-20 token since July 2025.

abrdn Physical Gold Shares ETF (Robinhood Classic Stock Token)SGOL