Robinhood has launched tokenized versions of U.S. equities — including private firms like OpenAI and SpaceX — for EU users via the Arbitrum network. Marketed as a step toward broader equity tokenization, the products provide indirect exposure through SPVs.
However, OpenAI publicly rejected the offering, stating it had no involvement and did not approve the equity tokens. Robinhood defended the launch as a limited exposure initiative. Bernstein analysts backed the move as a milestone in sparking mainstream tokenization, despite regulatory gray areas.
Elon Musk weighed in with a jab: "Your ‘equity’ is fake.” SpaceX remained silent, but speculation suggests similar disapproval behind the scenes.
Tokenization is here — but not everyone’s on board.
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