Vladimir Tenev, co-founder and CEO of Robinhood, has outlined the platform’s intent to record “hundreds” of personal corporations as tokenized shares. The assertion follows controversy concerning its tokenized shares for personal corporations OpenAI and SpaceX. The ChatGPT creator went as far as to publicly denounce the providing.
Non-public corporations aren’t publicly traded on inventory exchanges. The corporations usually appeal to funding from founders, enterprise capitalists, personal fairness corporations, and likewise generally angel buyers, and workers. Consequently, funding in these corporations is closed off from the general public.
Robinhood’s tokenized inventory providing, obtainable solely within the EU, seeks to unravel that ache level by giving merchants entry to the shares through its personal Ethereum layer-2 community.
“We’d wish to have hundreds of personal corporations on the platform, accessible to retail,” Tenev mentioned in an interview with Bloomberg. “And, truly, since our announcement, I’ve had a deluge of inquiries [from] personal corporations that truly need entry to retail, to have their shares tokenized, to be a part of this revolution.”
Robinhood CEO Vlad: “Tokenized shares are the largest innovation in a decade!”
He emphasizes retail deserves entry to personal shares and highlights robust demand for EU-compliant derivatives, regardless of regulatory challenges.
Tokenization of RWA is inevitable and a pure… pic.twitter.com/U7GMopT6X1
— Alvin Foo (@alvinfoo) July 8, 2025
Predictors on Myriad Markets imagine there’s a 51.6% chance that Robinhood will add at the very least yet another personal firm as a inventory token by the top of the month.
(Disclosure: Myriad is a prediction market developed by Decrypt’s guardian firm Dastan.)
Tenev defined the OpenAI and SpaceX tokenized shares aren’t tradable but—they had been handed out to customers by means of a giveaway. Nonetheless, it prompted backlash from the official OpenAI X account earlier this month.
“We didn’t companion with Robinhood, weren’t concerned on this, and don’t endorse it,” OpenAI wrote on X. “Any switch of OpenAI fairness requires our approval—we didn’t approve any switch.”
For Robinhood to situation tokenized shares, Tenev mentioned, the corporate is required to both maintain the underlying asset itself or have a “conventional monetary enterprise” maintain it for them. He additionally defined that shares in personal corporations are sometimes traded on a secondary market by institutional buyers.
That may indicate Robinhood both holds OpenAI fairness—regardless of disputes from the AI agency—or it’s partnered with fairness holders.
“The mechanism barely differs relying on the asset, whether or not it is a public inventory or a personal firm,” he mentioned, “however the intent is for the tokens to be backed by publicity to the underlying asset, in just about all circumstances.”
The controversy additionally prompted questions over how regulators see the tokenized shares. Tenev mentioned that the providing is feasible because of the European Union’s “clear laws” for spinoff crypto property. He added that Robinhood is assured that its providing will “stand up to the best type of scrutiny” and is in “ongoing discussions” with regulators.
For now, Robinhood’s tokenized shares are solely obtainable within the EU. However the CEO famous that the U.S. shouldn’t be “too far behind” as, he claims, the SEC has began to have discussions on the subject.
