Robinhood says voting and 1:1 in-kind share redemption are on the roadmap for eligible holders of its RHJ-issued Stock Tokens, but it has not set a launch date or published eligibility and operating rules. The ERC-20 tokens, launched in July 2026 on Robinhood Chain, provide economic exposure to U.S. stocks and ETFs and are backed 1:1 by shares held with a licensed U.S. custodian, Robinhood says. They remain tokenized debt securities rather than direct equity ownership, with current redemptions settled in cash and no shareholder voting rights. The plans follow criticism from AMC CEO Adam Aron and arrive as Robinhood, Kraken, Nasdaq and traditional exchanges pursue tokenized-equity offerings.