Sock & Pussy 500: Memecoin Pays Out Tokenized Stocks to Holders

A new memecoin called Sock & Pussy 500 is gaining traction among younger investors on Robinhood's blockchain.

The token, which trades under the ticker $S&P500, promises to distribute tokenized stocks to holders without requiring them to stake or claim their rewards.

The project's fund manager is listed as a cat in a sock, and the management fee is zero. The rebalancing schedule is 'whenever he feels like it.'

The gimmick relies on Robinhood's infrastructure, which launched its Ethereum Layer 2 blockchain built on Arbitrum's technology in mid-2026.

The tokenized shares of companies such as Tesla (TSLA) and Nvidia (NVDA) exist as ordinary crypto tokens on the chain, allowing for seamless distribution to holders.

While the project promises a new way for younger investors to participate in dividend investing, experts warn that memecoins are high-risk assets with volatile prices and thin regulation.