OpenAI Denies Relationship with Robinhoods Tokenized Shares Scheme

The AI startup OpenAI has denied reports regarding the launch of tokenized shares of the company proposed by Robinhood.

“These ‘OpenAI tokens’ do not represent an ownership stake in our company. We have not collaborated with Robinhood, we are not involved, and we do not endorse this. Any transfer of shares in OpenAI requires our approval – which we have not granted,” the statement reads.

Robinhood clarified that their new product offers retail investors “indirect access to private markets,” facilitated by the online broker’s stake in a special purpose vehicle (SPV) designed to isolate risks and streamline financial operations.

A stock and startup expert, Amit Kukreja, indicated that OpenAI issued the announcement “as a precaution” — a necessary step for them to take.

“What Robinhood has done is issue a token that tracks OpenAI’s valuation in private markets, similar to what they do with tokens for over 200 public companies. You’re not actually buying shares; those certificates are just representations of ownership. 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, narrowing spreads between buying and selling prices, enabling global trading. Robinhood is merely one of the first to take this initiative,” he explained.

At the end of June, Robinhood announced the development of its own blockchain network based on Arbitrum and the launch of trading in tokenized shares.

The company released tokens for OpenAI, Robinhood Markets, Trump Media & Technology Group, Schwab U.S. Dividend Equity ETF, and YieldMax MSTR Option Income Strategy on the Layer 2 network.

The broker’s CEO, Vlad Tenev, confirmed that technically, these tokens are not considered “equity,” but they do provide retail investors access to private assets. He described this initiative as “a preliminary step towards something much larger.”

To recall, in February Tenev proclaimed cryptocurrency to be the “future” and discussed four areas where the online broker aims to accelerate its offerings in the industry.