OpenAI Disavows Robinhood Tokenized Shares, Stock Drops 2%

12 posts • OpenAI (o3)

Updated Jul 3, 2025, 12:49 PM

OpenAI said it has no involvement with—and does not endorse—so-called “OpenAI tokens” being promoted by online brokerage Robinhood. In a statement posted 2 July, the artificial-intelligence developer stressed that the digital instruments “are not OpenAI equity” and that any transfer of its privately held shares requires the company’s approval, which it has not given.

Robinhood announced earlier in the week that it would distribute tokenized shares of OpenAI and SpaceX to some European customers, describing the giveaway as a way for retail investors to gain “indirect exposure to private markets.” Chief Executive Officer Vlad Tenev later clarified that the instruments are derivatives backed by special-purpose vehicles, confer no voting rights and “aren’t technically equity.”

The pushback rattled investors: Robinhood’s Nasdaq-listed stock fell about 2 % in late trading on 2 July. SpaceX CEO Elon Musk, a former OpenAI co-founder, amplified the criticism, replying on X that the purported equity is “fake.” Legal specialists quoted by industry publications said the product would likely attract intense U.S. regulatory scrutiny if offered domestically, though the company currently limits access to European users.

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Sources

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Phyrex

@Phyrex_Ni

Robinhood CEO Vlad Tenev said that OpenAI and SpaceX tokens are derivatives supported by special purpose carriers (SPVs) rather than actual company shares.

Crypto Crib

@Crypto_Crib_

🇺🇸 Robinhood CEO Vlad Tenev: "OpenAI and SpaceX tokens are derivatives backed by SPVs, not actual company shares" 👀

Ai 姨

@ai_9684xtpa

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