Robinhood CEO “OpenAI Stock Tokens, Not Actual Stocks But Derivatives”

Amidst ongoing controversy surrounding the OpenAI stock tokens distributed by Robinhood to European users, Vlad Tenev, Robinhood CEO, directly clarified the nature of these tokens. He drew the line by stating, “This token is not OpenAI stock but a derivative.”

Following OpenAI’s statement that “the token is not actual stock of our company,” Tenev explained on his X account on the 2nd, “The OpenAI stock token is technically not a stock but a derivative linked to certain corporate value.” He added, “This is clearly stated in the terms and can be a new means for general investors to track the value of private companies.”

Robinhood EU recently announced that they would distribute ‘stock tokens’ of private companies like OpenAI and SpaceX to qualified users, garnering significant interest. Tenev suggested, “Many private companies hope to participate in the tokenization revolution,” indicating that the accessibility for individual investors is likely to be further expanded in the future.

However, since this is not a structure of holding real stock, legal ownership and voting rights are not granted, and investors do not have any rights other than value tracking. This statement is interpreted as an effort to clarify Robinhood’s position in a market environment where a clear boundary between tokens and physical assets is necessary.