This week, Robinhood Markets found itself at the center of discussions after launching tokenized shares of private companies, including OpenAI and SpaceX, for users in the European Union.
Launch of Robinhood's Tokenized Shares
On Monday, Robinhood CEO Vlad Tenev announced that the trading platform would offer 'stock tokens' – tokenized shares of private equity for over 200 firms including OpenAI and SpaceX – exclusively for European Union users.
The initiative was positioned as part of a broader product showcase that included perpetuals trading, staking services, and a new Layer 2 blockchain network built on Arbitrum.
OpenAI's Reaction to the Initiative
OpenAI's response was swift and unequivocal. The company posted on X that 'These ‘OpenAI tokens’ are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it.'
The statement emphasized that any transfer of OpenAI equity requires the company’s explicit approval, which was never granted for this tokenization scheme.
Market Impact and Robinhood's Stocks
The controversy immediately impacted Robinhood’s stock performance, with HOOD shares tumbling after OpenAI’s public denial of partnership. As of July 3rd, 2025, Robinhood stock was trading at $94.09, down 3.97% from the previous close of $97.98.
Despite this decline, the stock has shown remarkable year-to-date performance with gains of 152.52%, significantly outpacing the S&P 500’s 6.62% return.
The situation surrounding Robinhood's tokenized shares and OpenAI's response highlights the growing tensions between crypto platforms seeking to democratize access to private markets and the companies whose equity is being tokenized without explicit partnership agreements.
