The U.S. Securities and Exchange Commission (SEC) is poised to introduce an “innovation exemption” for tokenized stocks, potentially clearing the path for trading digital versions of securities, Bloomberg reported on Tuesday.
Framework Expected This Week
The agency’s framework for tokenized stock trading, developed under the Trump administration, is expected to be finalized this week, according to anonymous sources cited by the outlet. These tokenized assets could be traded on decentralized crypto platforms, a move that could “reshape the landscape of the American stock market,” the report stated.
SEC Support for Tokenization
The SEC, under Chair Paul Atkins, has signaled its support for tokenization since mid-2025, including exemptions designed to accelerate on-chain securities trading. This aligns with broader U.S. policy aimed at leading in digital assets.
Trading Without Company Consent
The SEC is considering allowing the trading of tokens that do not have the backing or consent of the public companies whose shares they represent, Reuters reported. These tokens may not offer traditional shareholder rights, such as voting power or dividends, the report added.
Potential Impact on Crypto Infrastructure
This move could represent a significant shift into crypto infrastructure, enabling 24/7 trading of digital securities, potential DeFi integration for equities, and growth in platforms handling tokenized assets.
Bullish Outlook
DeFi analyst Ignas noted that the development is bullish for various assets, including ONDO, CFG, PENDLE, and HYPE, as well as lending markets that accept tokenized collateral, such as AAVE, MORPHO, and FLUID. Tokenization is transitioning from planning to policy, marking a structural shift that will facilitate round-the-clock trading and decentralized infrastructure.
Global Race to Tokenize
“We’ve entered a global race to tokenize money and capital markets,” commented Token Terminal. “The economic advantages of asset tokenization are too good to ignore, which is why we believe that all other major nations and economic zones will try to follow the US playbook when it comes to stablecoins and asset tokenization.”
Tokenized Assets Market Share
Tokenized stocks currently represent a small portion of the broader tokenized real-world asset market, with $1.45 billion, or 4.3% of the distributed total value locked (TVL), according to RWA.xyz. Tokenized U.S. Treasuries account for the largest share, at 46% of $15.5 billion. Ethereum is the dominant blockchain, with a market share exceeding 60% (including layer-2s) of all tokenized real-world assets.
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