Robinhood CEO says issuers should not veto tokenized stocks
Tokenized stock offerings: Robinhood’s Vlad Tenev says issuers need not consent when shares back separate instruments that don’t change rights or records.
Robinhood CEO Vlad Tenev said issuers should only be involved when tokenized products change shareholder rights, company obligations, or official records.
In a post on X, Tenev argued that if a tokenized product creates a separate instrument backed by shares without affecting the issuer’s cap table or shareholder rights, company consent should not be required.
The comments followed criticism from AMC Entertainment CEO Adam Aron, who said AMC had no affiliation with Robinhood’s tokenized stock offerings and planned to have securities counsel review them. Tenev said Robinhood’s stock tokens use a thirdparty structure backed 1:1 by underlying shares and are designed to give economic exposure without altering the issuer’s records.