OpenAI has created a stir on social media, reportedly affecting Robinhood’s stock price and igniting discussions around the stock tokens the trading platform announced on June 30.
In a post shared on July 2 via X, the OpenAI Newsroom account stated, “These ‘OpenAI Tokens’ are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval — we did not approve any transfer. Please be careful.”
Shortly afterward, Robinhood’s CEO and Co-Founder Vlad Tenev took to X to assure followers that the company’s introduction of OpenAI stock tokens “plants a seed for something much bigger,” mentioning that private firms have expressed interest in participating in this tokenization initiative.
“While it is true that they aren’t technically ‘equity’ (you can see the precise dynamics in our Terms for those interested), the tokens effectively give retail investors exposure to these private assets,” Tenev explained in his post.
According to Bloomberg, following OpenAI’s announcement, Robinhood’s shares plunged as much as 6% on July 3, raising broader questions about the implications of tokenizing shares of private companies.
A Robinhood representative clarified to Bloomberg that the tokens originate from the company’s ownership in a special purpose vehicle. “So while we don’t technically ‘own shares,’ the tokens give customers exposure to private market,” the spokesperson stated.
On June 30, Robinhood revealed it would be launching U.S. stock and exchange-traded fund (ETF) tokens in the European Union, allowing eligible customers access to U.S. equities through Robinhood’s stock token offerings. The platform highlighted that this initiative would give European users access to over 200 U.S. stock and ETF tokens, with token holders receiving dividend payouts directly within the app.
“As we introduce tokenized stocks, our European app transitions from a crypto-only platform to a comprehensive investment app powered by crypto,” Robinhood announced in a Monday press release.
On the same day, the Robinhood EU account on X also announced a giveaway, stating, “We’re giving away the first Private Company Stock Tokens of OpenAI and SpaceX. If you’re a Robinhood EU customer and you qualify, you are now able to claim your tokens in-app until July 7th.”
