Robinhood plans in-kind redemption and voting options for stock tokens

Robinhood is planning to add in-kind redemption and voting capabilities to its Stock Tokens product, tackling the two biggest criticisms that have dogged the platform’s foray into tokenized equities since its launch. What Stock Tokens are, and what they aren’t Robinhood’s Stock Tokens launched in July 2026, issued by Robinhood Assets (Jersey) Limited as tokenized debt securities. They trade on Robinhood Chain, an Arbitrum-based Ethereum Layer 2 network, and provide 1:1 economic exposure to underlying US equities and ETFs. That last part matters. “Economic exposure” means you get the price movement and dividend equivalent of holding Apple or Tesla stock. But you don’t actually own the shares. A US custodian holds the real equities on behalf of the issuer, while token holders receive what is essentially an IOU with a stock ticker attached. Over 190 equities and ETFs are currently available for trading through the platform. Dividends don’t arrive as cash in your account. Instead, an on-chain multiplier reinvests distributions into additional underlying shares, adjusting for corporate actions without changing your token balance. The product is currently unavailable to US persons and re...