A recent social media post by OpenAI has drawn attention after reportedly influencing Robinhood’s stock price and igniting discussions about the stock tokens the trading platform unveiled on June 30.
In a statement shared on July 2 via X, the OpenAI Newsroom clarified, “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.”
Following OpenAI’s announcement, Robinhood’s CEO and Co-Founder, Vlad Tenev, took to X to respond. He remarked that the company’s initiative to give away OpenAI stock tokens “plants a seed for something much bigger,” indicating that interest from private firms in tokenization was growing.
Tenev noted that while the tokens are not strictly classified as “equity,” they essentially allow retail investors to gain exposure to private assets. “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,” he stated.
Bloomberg reported on July 3 that Robinhood’s shares experienced a decline of up to 6% following OpenAI’s statement, prompting a wider conversation about the implications of tokenizing shares of private companies. A spokesperson for Robinhood explained to Bloomberg that the tokens are facilitated through the company’s ownership interest in a special purpose vehicle, providing customers with some level of exposure to the private market despite not owning shares outright.
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On June 30, Robinhood revealed that it would be launching U.S. stock and exchange-traded fund (ETF) tokens in the European Union, offering eligible customers access to U.S. equities through Robinhood stock tokens. The platform highlighted that this rollout would enable European customers to engage with more than 200 U.S. stock and ETF tokens, with dividends directly deposited into their app accounts.
“With tokenized stocks, our European app transitions from being a crypto-only app to an all-in-one investment app powered by crypto,” Robinhood expressed in a press release. On the same day, the Robinhood EU account announced a giveaway on X, stating, “We’re giving away the first Private Company Stock Tokens of Open AI and Space X. If you’re a Robinhood EU customer and you qualify, you are now able to claim your tokens in-app until July 7th.”
