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Robinhood CEO Vlad Tenev announced plans to distribute tokenized shares of private tech giants like OpenAI and SpaceX, part of a broader push to grow the company’s crypto and real-world asset business across Europe.
Speaking at a promotional event in Cannes, Tenev held up what he said were digital tokens representing shares in OpenAI and SpaceX, and said European users who download the Robinhood app would soon be able to claim them. He added that $1 million worth of OpenAI tokenized equity had already been transferred to Robinhood Europe and would be distributed in the coming days.
“Turns out the OpenAI stock token transaction did indeed succeed,” Tenev posted on X, confirming the first batch of tokens had been processed.
It remains unclear whether the tokens will be available only to attendees of the event or to all new Robinhood EU users. The company did not respond to requests for comment on eligibility or redemption details. Tenev did note that the tokens would initially be held in user wallets, with trading functionality to follow later.
This comes as Robinhood rolls out tokenized U.S. equities on its new blockchain infrastructure built on Arbitrum. The brokerage is offering more than 200 U.S. stock and ETF tokens to European investors, with zero commissions and near round-the-clock trading—24 hours a day, five days a week.
Robinhood’s expansion isn’t limited to tokenized stocks. The firm recently launched perpetual crypto futures for EU users with up to 3x leverage, routed through Bitstamp, which Robinhood acquired for $200 million. Days earlier, it also introduced micro futures contracts for Bitcoin, XRP, and Solana, letting users trade derivatives with smaller capital outlays.
The company is also lobbying for a national framework for real-world asset (RWA) trading in the U.S., proposing a Real World Asset Exchange with off-chain trading and on-chain settlement. Robinhood’s moves reflect growing interest in tokenizing everything from stocks to credit and Treasuries—though so far, tokenized equities still make up a small slice of the RWA market, which recently topped $24 billion.
While Robinhood isn’t the first to offer tokenized stocks—Gemini and others already have products in market—the inclusion of high-profile names like OpenAI and SpaceX sets its offering apart and adds a layer of hype to its latest crypto push.
Tokenization refers to the process of converting real-world assets such as equities, real estate, or commodities into digital tokens that can be traded on blockchain platforms. By moving stocks onto a decentralized ledger, brokers can sidestep traditional market infrastructure, cutting costs, speeding up transactions, and opening access to a wider range of users.
