Robinhood's Tenev says US tokenisation uncertainty deters serious assets
Robinhood CEO Vlad Tenev says the SEC's temporary innovation exemption is a positive step but that rulemaking or legislation is needed before investors commit large sums to tokenised stocks.
Key points
- Tenev told Robinhood's third-quarter earnings call that uncertainty over rules in five years is an impediment to putting serious assets on the technology
- Robinhood's crypto revenue fell 55% year on year to $120m, with notional trading volume down 38% to $50bn
- Binance Research projects the tokenised equities market could reach $349bn by 2030, from $4.43bn on 15 Sept
Robinhood CEO Vlad Tenev says US tokenisation uncertainty could keep investors from committing large sums to tokenised markets, even after the securities regulator opened a temporary route for onchain stock trading in 2026. Speaking on Robinhood's third-quarter earnings call on Tuesday, he welcomed the SEC's innovation exemption but said longer-term certainty would need rulemaking or legislation, Cointelegraph reports.
Tenev said customers' doubts about what happens in five years are likely to hold back serious assets from the technology.
Tenev said private-company stock tokens would launch overseas first, subject to regulatory arrangements, while the company seeks a US path that meets accreditation constraints.
What to watch: Tenev said Robinhood hopes to share more on its own US tokenisation plans in the near future.
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