Robinhood launched a private equity fund for retail investors, with shares that are tradable but not redeemable. The fund dropped 11% on its first day. CEO Vlad Tenev said the move aims to open private markets to everyday investors. Robinhood has tested tokenized shares in Europe, including for OpenAI. On-chain data shows growing interest in altcoins to watch as platforms expand access to new asset classes.

Odaily Planet Daily report: On Friday, Robinhood CEO Vlad Tenev rang the opening bell at the NYSE to celebrate the launch of Robinhood Ventures Fund I, a closed-end fund designed to give retail investors indirect exposure to leading private tech companies. Investors can trade shares on the secondary market but cannot redeem the underlying assets through the platform. On its first day of trading, the stock underperformed, falling as much as 11% from its offering price. Vlad Tenev stated that Robinhood is continuously working to democratize the private market and tokenize assets, aiming to enable ordinary investors to access equity in private companies that were traditionally available only to institutions and accredited investors. Previously, Robinhood tested tokenized versions of shares in private companies such as OpenAI in Europe as part of its exploration into bringing private equity onto the blockchain. (Fortune)Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.