Tenev says Robinhood stock tokens should not automatically need issuer consent
Robinhood CEO Vlad Tenev said the company’s stock tokens should not automatically require consent from the underlying issuer because they are separate tokenized securities issued by another entity and backed by the referenced shares. Speaking on CNBC’s Squawk Box on Sept. 9, Tenev drew a line between a tokenized product linked to AMC Entertainment stock and an actual AMC share placed onchain. He also acknowledged that holders of the tokens do not receive the voting rights attached to the underlying shares, while Robinhood has yet to say how those votes would be handled. The comments come as Robinhood faces criticism from AMC CEO Adam Aron, who argues that the structure disconnects token demand from AMC’s own capital-raising efforts and strips investors of shareholder rights. Product documents describe the instruments as tokenized debt securities issued by Robinhood Assets (Jersey) Limited, with each token backed one-for-one by corresponding shares held by a U.S. custodian. Robinhood’s disclosures also state the product is unavailable in the U.S. and to U.S. persons.








