Robinhood Launches Tokenized OpenAI Shares for EU Users, Sparks Controversy

In a groundbreaking move, Robinhood has introduced tokenized shares of OpenAI and other private companies like SpaceX to its European users, marking a significant step towards democratizing access to private equity through blockchain technology. This initiative, rolled out in late June 2025, allows EU customers to invest in high-profile U.S. stocks and private firms via digital tokens, bypassing traditional barriers to entry.

However, the launch has not been without controversy. OpenAI has publicly distanced itself from the initiative, stating that it did not partner with Robinhood and does not endorse the so-called 'OpenAI tokens'. The company emphasized that these tokens do not represent actual equity in OpenAI, raising concerns about potential misrepresentation among investors.

Robinhood's tokenized assets, which also include shares of major companies like Nvidia, Apple, and Microsoft, are designed to provide exposure to the U.S. stock market for European users. The platform minted over 2,300 OpenAI stock tokens on the Arbitrum blockchain as part of its DeFi expansion, aiming to bridge traditional finance with decentralized technologies.

Critics, including OpenAI and industry observers, have highlighted potential risks. There are fears that investors might misunderstand the nature of these tokens, believing they hold direct stakes in the companies. Additionally, a wallet linked to Robinhood's OpenAI token promotion has been tied to an engineer with a questionable crypto history, further fueling skepticism.

Elon Musk, associated with SpaceX, another company featured in Robinhood’s tokenized offerings, has also commented on the situation. Musk called OpenAI’s equity 'fake,' though he remained silent on the SpaceX tokens, adding another layer of intrigue to the unfolding story.

As the debate continues, Robinhood stands by its mission to make investing more accessible. The company’s push into tokenized assets could redefine how retail investors engage with private equity, but it must navigate regulatory scrutiny and public trust to succeed in this innovative yet contentious space.