OpenAI posted on social media distancing themselves from Robinhood's stock tokens, stating they do not endorse them or partner with Robinhood.
Robinhood's CEO mentioned that the stock tokens offer retail investors exposure to private assets, but OpenAI's statement impacted Robinhood's stock price causing a 6% drop.
Robinhood clarified that the tokens are enabled by their ownership stake in a special purpose vehicle, giving customers exposure to private markets.
Robinhood introduced U.S. stock and ETF tokens in the European Union, offering customers access to over 200 U.S. stock and ETF tokens.