Robinhood earnings call faces tokenized stock battle as 35% of companies object to OKX-ICE listing

Robinhood's third-quarter earnings call arrives amid a heated debate over tokenized stocks. A Wall Street Journal full-page ad warned CEOs that crypto tokens are targeting traditional shares, listing eight risks including pricing disparities and legal liability. Since the ad, objections to OKX-ICE's tokenization plans have surged from nine to 22, now representing 35% of the 63 planned companies, including Wells Fargo and Cisco. Robinhood itself generated $51 million in revenue from tokenized equities in its debut quarter, surpassing Ethereum's $41 million. With the SEC offering a 30-day opt-out window and no objectors having withdrawn their shares, the outcome of this conflict will significantly impact Robinhood's ecosystem, which relies heavily on tokenized NVDA and TSLA trading.