AMC Entertainment CEO Adam Aron posted on X that Robinhood’s tokenized stock product, which provides economic exposure to AMC shares, is not registered under U.S. securities regulations and bears no affiliation with AMC. Aron said the company will ask its outside securities counsel to investigate the offering and noted that the tokens may not be offered to U.S. investors, citing restrictions in Canada, Switzerland and the United Kingdom.
Tokenized stocks are blockchain‑based tokens that track the price of traditional equities. The sector has faced heightened scrutiny after several crypto exchanges withdrew their tokenized SpaceX IPO campaigns in June, blaming delivery issues with Kraken‑owned xStocks.
Robinhood co‑founder and CEO Vlad Tenev responded on X, asking Aron to specify his concerns, but the platform has not issued a public statement.
Robinhood launched its first generation of stock tokens in July 2026. The tokens are ERC‑20 debt securities issued by Jersey‑based Robinhood Assets, giving holders economic exposure to U.S. stocks and ETFs. In February, Robinhood introduced a public testnet for Robinhood Chain, an Ethereum layer‑2 network built on Arbitrum technology to host tokenized assets. The company announced in October 2025 plans to tokenize nearly 500 U.S. stocks and ETFs, and in July 2026 Bernstein analysts raised their price target on Robinhood, citing tokenized equities as a key growth driver.
