Heard about “OpenAI tokens” being sold as stock? Thinking of grabbing a slice of the pie?
Well, you might want to hit pause and read the fine print — cause as of now, there’s some controversy swirling, and it’s not as straightforward as it sounds.
Here’s the scoop:
Robinhood just dropped a new offering in the EU: tokenized shares of OpenAI, SpaceX, and other buzzy private companies.
The pitch? To give everyday folks “exposure” to private giants that are normally off-limits. Sounds exciting, right?
But OpenAI is not on board.
They fired off a sharp public statement on X, making it very clear in not-so-soft words that they had zero involvement in this, didn’t partner with Robinhood, didn’t approve anything. And they definitely don’t endorse the tokens.
In their words:
“These ‘OpenAI tokens’ are not OpenAI equity… Please be careful.” So, what exactly is Robinhood selling?
According to them, the tokens are tied to shares in an SPV (Special Purpose Vehicle) — basically, a legal middleman that holds actual OpenAI shares.
But here’s the thing:
You’re not owning OpenAI stock.
You’re not even owning the SPV’s shares.
You’re owning a token that reflects the price of shares that the SPV owns.
Yup. It’s that layered.
Robinhood’s CEO, Vlad Tenev, says it’s all about giving people a taste of private equity — even if it’s not technically equity.
Meanwhile, OpenAI — and other startups like it — aren’t exactly loving the idea of third-party platforms creating the illusion that their shares are up for grabs.
Why? Because stock in private companies like OpenAI and SpaceX isn’t available to the public — and that’s kind of the whole point. These companies choose who gets to invest, not the other way around.
So yeah, it makes sense that they’re being extra protective about how their value is represented — and who’s claiming to sell it.
And they’re not alone: Just recently, Figure AI sent out cease-and-desist letters to brokers trying to market its stock in similar backdoor ways.
So, what’s the takeaway?
If someone’s offering you “OpenAI tokens” and it sounds like a chance to finally invest in ChatGPT’s creators — slow down.
You're not buying real OpenAI shares. You're not buying into the company. You're buying a token... that’s linked to a structure… that holds the shares.
It’s not fake — but it’s definitely not ownership.
So yeah, do your homework. Ask questions. Read way past the headlines. Because proximity to something big doesn’t always mean access to it.
And as always, if it sounds too futuristic and fancy to be true, it probably needs a closer look 👀
Here’s a detailed breakdown of this development.
