Why Apple, Nvidia and Tesla Can Block OKXICE From Trading Their Tokenized Shares

TLDR 67 U.S. issuers have objected to OKXICE’s plan to trade tokenized versions of their shares. Only six companies from the original list have not objected: Strategy, Coinbase, Circle, Robinhood, Securitize and BitGo. The SEC’s innovation exemption gives issuers 30 days to block third-party tokenization. Median holdings in tokenized-stock trading pools were just $92 as of Aug. 31. Rival venue TSV has started trading tokenized shares using an issuer-sponsored model. OKXICE, the joint venture between crypto exchange OKX and NYSE owner Intercontinental Exchange, wanted to offer round-the-clock trading of tokenized U.S. stocks. The plan is now facing pushback from the companies whose shares it hoped to list. As of Nov. 5, 67 issuers had filed objections.

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