Robinhood blinks

Robinhood says it will add share redemptions and voting rights to its tokenized stocks, after months of pressure over putting U.S. equities on blockchain rails.

“In-kind redemption and voting are coming for Robinhood Stock Tokens”

One token, one share

The company says it is building 1:1 redemptions with voting for eligible holders, so a token can be swapped for the actual share sitting in custody.

“We're actively working on redemptions for shares 1:1 with voting for eligible Stock Token holders…”

AMC pushed back hard

AMC told Robinhood to stop offering a tokenized version of its stock, saying it never approved it and that token holders do not get real shareholder rights.

The rights gap

That is the core complaint about tokenized equities. They track a price without carrying the votes and protections a registered shareholder gets.

The SEC's preferred path

Regulators say companies can tokenize their own shares and keep the issuer-shareholder link intact. Almost none have, which leaves brokers building synthetic versions instead.

Coinbase is doing it too

Coinbase already supports one-for-one redemptions on its tokenized equities and is adding voting. HOOD trades at $114.33, flat over the past year.