AMC Entertainment CEO Adam Aron has threatened to file a Securities and Exchange Commission complaint against Robinhood Markets over tokenised AMC stock listed without the company's permission. Aron discovered Robinhood had listed tokenised versions of AMC alongside more than 190 other company stocks on its offshore blockchain platform. Robinhood Chain, which launched in July 2026, generated over $3.8 million in network revenue on 1 September alone. The broader tokenised stock market reached $13.4 billion as of 1 September, up from $2.5 billion at the start of 2026. The tokens are issued through Robinhood Assets (Jersey) Limited and are not registered under US securities law. They provide price exposure but no ownership rights or shareholder protections.

Robinhood Markets' blockchain, Robinhood Chain, launched on 1 July and quickly challenged Solana's dominance in tokenised stock trading. By the end of July, it was averaging $29.7 million in daily tokenised stock trading volume on its decentralised exchanges, surpassing Solana's leading venues. However, Robinhood's early traction comes primarily from meme coin trading rather than traditional tokenised stock trading. According to a 21Shares report published on 1 September, Solana handled about 97% of spot decentralised exchange trading volume in tokenised real-world assets during the first half of 2026. As of 3 September, Solana held $501 million in tokenised stocks, representing 19% market share, whilst Robinhood Chain held only $90.9 million, or 3.2% market share.

Robinhood shares jumped 15% Thursday to around $123 following analyst upgrades and record activity on its blockchain network. Morgan Stanley upgraded the stock to overweight with a $150 price target, citing the company's expanding product lineup driving more revenue per customer. In July, Robinhood reported it now operates 13 business lines each generating over $100 million in annualised revenue. These span options, cryptocurrencies, equities, margin lending, and Gold subscriptions. A potential 14th revenue stream has emerged from Robinhood Chain, the company's blockchain network launched 1 July. The network collected about $4.5 million in fees on Wednesday, exceeding Ethereum and Base that day. Over the past 30 days, its average daily fees annualise to approximately $179 million.