AMC disputes Robinhood synthetic stock tokens

AMC Entertainment is disputing Robinhood over unregistered synthetic stock tokens that track its shares. Executives from both companies publicly confirmed the ongoing disagreement in early September 2026. The clash highlights growing friction over whether trading platforms can list blockchain versions of equities without issuer consent. Robinhood offers tokenized products for 190 public companies in addition to AMC.

The controversy follows sharp volatility in the theater chain's assets. On 3 September 2026, the AMC token pair on Robinhood Chain reached an intraday peak of $18.04. On 4 September 2026, AMC shares surged 21% in pre-market trading to hit $3.07. Those gains quickly reversed. By the morning of 8 September 2026, AMC shares dropped 5% to trade at $2.52 as the initial token bounce unwound.

The feud unfolds as the broader market for tokenized equities expands rapidly. The global market capitalization of tokenized stocks reached $13.4 billion on 1 September 2026. That figure stood at $2.5 billion at the beginning of 2026. During the first quarter of 2026, spot trading volume for tokenized stocks totaled $15.1 billion.

Trading infrastructure is evolving alongside these products. Robinhood Europe charges a foreign exchange fee of 0.1% on tokenized stock trades settled in euros. In a related market shift, cryptocurrency exchange Bullish agreed to acquire share transfer agent Equiniti for $4.2 billion in 2026.