These meetings coincided with the publication of a study by WisdomTree, which examines the business model of the blockchain network.

Brendan Ma, Head of Investment Strategy at the Arbitrum Foundation, participated in roundtable discussions co-hosted with WisdomTree in Lugano and Milan. It is reported that the meeting in Milan alone was attended by asset managers overseeing over €600 billion.

Ma told the participants that financial markets are shifting toward public blockchains, that major institutional players are entering the on-chain space, and that token-based networks must be built on viable business models capable of generating cash flow and revenue.

A key focus of the discussions was the accelerating tokenization of financial assets, with asset managers seeking blockchain networks that offer returns linked to the opportunities emerging as this infrastructure develops.

In its report, WisdomTree notes that Arbitrum’s technology "has evolved into a business in its own right and is currently the fastest-growing revenue stream for Arbitrum."

According to the firm, in the first half of 2026, the ArbitrumDAO generated $6.19 million with a total gross margin exceeding 97%—an increase from over 90% in 2025.

Any network that utilizes Arbitrum technology and settles transactions via Ethereum pays 10% of its net revenue—a stream that WisdomTree characterizes as "royalty income." The first such network to begin making payments was Robinhood Chain: in its first 10 weeks, it paid out $4.37 million in licensing fees, with approximately $3.5 million of that going to the DAO.

WisdomTree noted that "a single network generated more than half of what the entire organization had earned over the previous six months."

The report states that a key question for the future is whether other companies will follow Robinhood’s lead and begin building their own networks.

This research was released following the initiation of analytical coverage of Arbitrum by Standard Chartered in September.