Robinhood Markets Inc. shares surged to an all-time high on Monday following the launch of U.S. stock and ETF tokens for customers in the European Union.
The financial-services platform announced that EU users can now access over 200 U.S. stock and ETF tokens, including major tech firms such as Nvidia, Microsoft, Apple, and Amazon, News.Az reports, citing foreign media.
Additionally, tokens for private companies like SpaceX and OpenAI are now available, expanding investment opportunities for European users.
The stock shot up 11.8% in afternoon trading, toward an 11th record-high close in June. It has run up 40.4% in June — which would be its best month since the 59.8% rally in November 2024 — after climbing 34.7% in May.
Speaking during a launch event, Robinhood Chief Executive Vlad Tenev said that Robinhood is giving E.U. customers “exposure to two of the most valuable private companies in the world right now.”
“As long as you’re a Robinhood E.U. customer, you’ll be able to claim what we believe are the world’s first OpenAI and SpaceX private-stock tokens on a decentralized blockchain,” he added.
IPO spinoff talk continues to swirl around Starlink, the SpaceX-owned satellite-internet constellation, following comments from CEO Elon Musk.
Musk was asked about the possibility of a public listing for SpaceX or Starlink during a wide-ranging Bloomberg interview last month, and said that Starlink may go public at some point in the future. “I’m in no rush to go public,” he added.
Earlier this month, Cathie Wood’s Ark Invest said that SpaceX has an expected enterprise value of $2.5 trillion by 2030.
ChatGPT maker OpenAI, the darling of the artificial-intelligence revolution, raised money at a $300 billion valuation earlier this year. There are zero commissions or added spreads from Robinhood on the tokenized stocks, but the company said that other fees may apply. The stock tokens will initially be issued on Arbitrum cryptocurrency technology, although they will eventually be issued on Robinhood’s own blockchain.
