Yigit Taha OZTURK 
A bold move in the crypto-finance intersection is attracting significant attention from European regulators. Robinhood’s attempt to introduce tokenized equities to EU markets has sparked both curiosity and controversy—especially as the line between real equity and derivatives becomes increasingly blurry.
Robinhood’s Stock Token Initiative Raises Questions
Launched on June 30, Robinhood offered European users blockchain-based stock tokens tied to SpaceX and OpenAI as part of a limited-time promotion. The reaction from OpenAI was swift, with the company warning that “any transfer of OpenAI equity requires our approval” and urging caution from investors.
The Bank of Lithuania reportedly requested detailed information from Robinhood to determine whether the tokens function as regulated securities or unapproved derivatives.
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CEO Vlad Tenev responded by emphasizing that the tokens are derivative products offering retail exposure—not actual equity.
Live Testing Continues on Arbitrum
Despite growing scrutiny, on-chain data shows that Robinhood has issued over 215 stock tokens on the Arbitrum Layer 2 network. One SpaceX token has been renamed “Demo 1,” signaling that the offering remains in a testing phase.
Looking forward, Robinhood aims to introduce perpetual futures trading and even launch its own Layer 2 blockchain built on Arbitrum, indicating a broader push into crypto-native infrastructure.
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