Catenaa, July 4, 2025- Robinhood CEO Vlad Tenev defended the firm’s tokenized stock initiative on Thursday, clarifying that new digital assets linked to OpenAI and SpaceX are blockchain-based derivatives and not actual equity.
The explanation follows OpenAI’s public criticism, where the Sam Altman-led company stated it had not authorized Robinhood to distribute tokens that track its private stock value.
Tenev responded by asserting the tokens were designed to give retail investors pricing exposure, not ownership, noting they are governed by terms outlined on Robinhood’s platform.
Unveiled this week at a crypto summit in Cannes, the tokens were issued on the Arbitrum blockchain and offered to select users in the European Union.
Each token mimics share value through derivative contracts, not equity rights, allowing users to participate in pricing action of private firms previously inaccessible to most retail traders.
The initial rollout includes OpenAI and SpaceX, with plans to expand to more than 200 U.S.-based private companies. Robinhood also intends to introduce perpetual trading, staking services in the United States, and a dedicated Layer 2 blockchain network on Arbitrum.
OpenAI reiterated its opposition to the tokenization, urging potential investors to consult official filings and emphasizing that any equity transfers must receive its approval.
Robinhood joins other platforms such as Kraken, Bybit, and Gate in a growing trend of tokenizing real-world assets for global markets, particularly those restricted from U.S. regulatory oversight.
