Bernstein: Despite the controversy between Robinhood and OpenAI, the trend of tokenized stocks is inevitable

Robinhood announced last week the launch of tokenized stocks, but faced strong opposition for providing private equity to OpenAI without consent. The brokerage Bernstein believes that despite OpenAI's objections, Robinhood will still define tokens as derivatives and is doubling down on stock tokenization, betting on support from the U.S. Securities and Exchange Commission (SEC) and the CLARITY Act to unlock the tokenized asset market.
Bernstein analysts wrote that, as noted by Robinhood, the tokenization of private equity often lacks key rights such as company consent and preemptive rights. Although companies like OpenAI and SpaceX already have liquidity in the private market, the demand for tokenizing private assets with lower liquidity remains strong.