Robinhood is engaging with European regulators about its blockchain-based "stock tokens," which are derivatives intended for retail investors rather than actual shares. The initiative has faced scrutiny, especially following OpenAI's disassociation from the promotion, prompting questions from the Bank of Lithuania regarding the tokens' structure. Robinhood has already issued approximately 215 stock tokens and plans to expand its offerings.

Robinhood CEO Vlad Tenev clarified that the platform's "stock tokens" for OpenAI and SpaceX are derivatives, not actual equity, following criticism from OpenAI. The tokens provide a means for retail investors to track valuations of private companies, despite not being authorized by the firms they represent. Robinhood plans to expand this tokenization initiative to over 200 U.S. equities and private stakes.