Jun 10
Robinhood Securities Gains IPO Underwriter Status, CEO Tenev Targets Retail Allocation
†Robinhood Securities has been approved to act as an IPO underwriter, allowing it to compete directly with traditional Wall Street banks. †This move expands Robinhood's role from distributing IPO shares to negotiating pricing and taking on liability for offerings, with a focus on upcoming mega-listings like SpaceX. †Concurrently, crypto platforms are developing alternative, blockchain-based access points to pre-IPO equity, such as tokenized futures and secondary markets, which have shown effective price discovery.
