Overview

• Robinhood launched a limited giveaway of tokenized contracts tied to OpenAI and SpaceX shares for eligible European retail customers via a special purpose vehicle on Ethereum’s Arbitrum network.
• OpenAI issued a public statement clarifying that the tokens do not represent its equity, that it did not authorize any share transfers, and advising consumers to exercise caution.
• CEO Vlad Tenev defended the initiative as a way to provide indirect market exposure to private companies by tracking SPV-held shares on the blockchain.
• Elon Musk took to social media to dismiss OpenAI’s purported equity as “fake,” highlighting the discord between the firms.
• Legal analysts caution that the opaque SPV structure and lack of U.S. investor access could trigger severe SEC scrutiny and hinder the tokens’ broader adoption.