The AI startup OpenAI has refuted claims regarding the launch of tokenized shares of the firm, which were purportedly offered by Robinhood.
These “OpenAI tokens” are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval—we did not approve any transfer.
Please be careful.
— OpenAI Newsroom (@OpenAINewsroom) July 2, 2025
“These ‘OpenAI tokens’ are not a stake in the company. We did not collaborate with Robinhood, were not involved in this, and do not support it. Any transfer of a stake in OpenAI requires our approval—we did not approve any transfer,” the statement reads.
Robinhood explained that the new product provides retail investors with “indirect access to private markets” and is realized through the online broker’s stake in a special purpose vehicle.
Equity and startup expert Amit Kukreja noted that OpenAI issued the announcement “as a precaution”—they were obliged to do so.
for anyone freaking about this, it’s not a big deal
OpenAI is putting out this statement to be safe because they have to
but all robinhood did was establish a token that tracks the valuation of openai on the private markets
similar to the tokens for all the other 200 public…
— amit (@amitisinvesting) July 2, 2025
“All Robinhood did was issue a token that tracks OpenAI’s valuation on private markets. It’s the same as the tokens for the other 200 public companies they offer. You’re not literally buying their shares—the certificates themselves are just that, certificates. What matters is the digital representation of these assets. In the future, thousands of decentralized exchanges will allow you to buy OpenAI, whether it’s private or public. There will be high liquidity, the spread between buy and sell prices will narrow, and people will be able to trade this globally. Robinhood is just one of the first companies to take this step,” he explained.
At the end of June, Robinhood announced the development of its own blockchain network based on Arbitrum and the launch of trading tokenized shares.
The company issued on the L2 network tokens for OpenAI, Robinhood Markets, Trump Media & Technology Group, Schwab U.S. Dividend Equity ETF, and YieldMax MSTR Option Income Strategy.
Robinhood CEO Vlad Tenev confirmed that technically the offered tokens are not “equity,” but they effectively provide retail investors access to private assets. He described the initiative as an “early step towards something much bigger.”
Back in February, Tenev called cryptocurrency the “future” and outlined four areas where the online broker intends to accelerate the development of industry offerings.