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.

Robinhood's stock surged nearly 13% after the company launched tokenized shares of OpenAI and SpaceX in Europe, making private equity accessible via blockchain for the first time. The move is part of Robinhood's strategy to expand its crypto offerings globally, allowing EU users to trade over 200 tokenized stocks and ETFs with no commission. However, U.S. users will face regulatory hurdles before accessing similar offerings.