American analysts at Bernstein have voiced a positive outlook on equity tokenization, despite the discontent from OpenAI and SpaceX.
Optimistic Forecast by Bernstein Analysts
Analysts at Bernstein have expressed confidence that current regulatory conditions are favorable for the development of equity tokenization in the market. They suggest that this could lead to the beginning of an 'equity tokenization wave'. Specifically, Bernstein believes that Robinhood may benefit from this process.
Robinhood's Launch of Tokenized Stocks
Robinhood CEO Vlad Tenev introduced a new equity tokenization product at an event in Cannes on June 30. He announced tokenized stocks of over 200 public U.S. companies and private companies like OpenAI and SpaceX to be minted as tokens on the Arbitrum blockchain. According to Tenev, these tokens are 'a seed for something much bigger' and are intended to attract more private companies to the tokenization trend.
Reaction from OpenAI and SpaceX
OpenAI responded to Robinhood's launch by clarifying that the tokens are not its equity and that the company did not consent to such actions. 'We did not partner with Robinhood and do not endorse this. Any transfer of OpenAI equity requires our approval,' stated OpenAI. Unlike OpenAI, SpaceX did not issue an official statement. However, CEO Elon Musk indirectly commented on the situation, claiming 'your equity is fake.' This remark continues Musk's criticism of OpenAI.
Despite the controversies surrounding equity tokenization, Bernstein analysts are confident that this trend will gain traction. Robinhood continues to evolve, launching new products, while companies like OpenAI and SpaceX must protect their assets and interests.
