On October 30, OKX‑ICE Tokenized Stock Venue (TSV) announced that twelve additional companies had filed formal objections to the tokenized trading of their shares on the platform. The new list includes Nvidia, Costco, Nike, Micron, CrowdStrike, Palo Alto Networks, Reddit, Hewlett Packard Enterprise, Corning, Bloom Energy, IREN and USA Rare Earth.
Growth of the objection list
The latest batch brings the total number of companies that have objected to 50, up from nine when the first objections were recorded on October 15. The list had reached 38 in an earlier notice on October 28, when Walmart and Eli Lilly joined.
SEC innovation exemption framework
Under the U.S. Securities and Exchange Commission’s innovation exemption, a venue must notify a company before offering a tokenized version of its shares. If the company objects in writing within 30 days, the venue is prohibited from listing that tokenized stock for trading, though the objection applies only to the specific venue.
OKX‑ICE TSV structure and trading model
OKX‑ICE TSV is a 50‑50 joint venture between Intercontinental Exchange, the owner of the NYSE, and the U.S. holding company of cryptocurrency exchange OKX. The platform intends to allow approved users to trade tokenized U.S. equities around the clock via permissioned Uniswap v4 pools on OKX’s XLayer blockchain, with trades settled in stablecoins such as USDC.
Company responses and market context
None of the newly objecting firms have publicly explained their decisions. Nasdaq has previously cited concerns about price transparency and trade reporting as reasons for opting out of the exemption. Industry commentary suggests Nasdaq may be influencing other issuers to object.
OKX‑ICE acknowledges that it is not subject to Regulation NMS, which governs best‑price display and trade reporting, and notes that broker‑dealers may face unresolved questions regarding trade reporting and best execution on the venue.
Remaining major issuers
As of the latest notice, several high‑profile companies, including Apple, Tesla and Amazon, have not been listed among the objectors.
