Gautam Chhugani's questions to Robinhood Markets Inc (HOOD) leadership • Q2 2025
Question
Gautam Chhugani of Bernstein asked about the regulatory path for equity tokenization in the U.S. and how Robinhood sees it playing out, especially in light of recent SEC commentary.
Answer
CEO Vlad Tenev noted that while tokenization in the U.S. offers benefits like 24/7 trading and on-chain capabilities, the current U.S. experience is already very advanced. He believes the bigger opportunity in the U.S. is tokenizing previously inaccessible assets like private market securities. He stated Robinhood is working with regulators on this, which requires progress on accreditation laws and securities tokenization rules.