$2.2M ATH in tokenized Coinbase TVL. COIN jumped ~10% after the SEC perps filing, and the Robinhood wrapper followed. TVL is up 79% WoW while transfers fell 74%. Net minting is up 220%, so capital is staying despite lower churn. With CLARITY coming up next, the wrapper is already building ahead of the next regulatory catalyst. Data from GoldRush(Covalent)