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Sunday Nov 30 2025 02:00
2 min
The US Nasdaq stock exchange is prioritizing SEC approval for its proposal to offer tokenized versions of stocks listed on the exchange, according to the exchange’s crypto chief.
Nasdaq’s head of digital assets strategy, Matt Savarese, stated during a CNBC interview, “We’ll just move as fast as we can,” when questioned about potential SEC approval this year. He added, “I think what we have to really evaluate is where the public comments come back in and then answer and respond to the SEC questions as they come through. We hope to work with them as quickly as possible.”
The proposal, submitted on September 8th, requests permission to allow investors to buy and sell stock tokens – digital representations of shares in publicly traded companies – on the exchange.
Savarese emphasized that Nasdaq is not attempting to overhaul traditional stock investing when asked if other major exchanges are likely to follow suit. “We’re not looking at upending the system; we want everyone to come along for that ride and bring tokenization more into the mainstream,” he said. “We want to do it in that responsible investor-led way first, under the SEC rules themselves.”
Robinhood CEO Vlad Tenev stated in October that tokenization will “eventually eat the whole financial system.”
Savarese highlighted Nasdaq’s aim to be an innovator, noting its historical transition from paper-based trading to electronic systems.
The topic of tokenizing stocks has gained significant traction this year. Galaxy Digital CEO Mike Novogratz mentioned on September 3rd that his company was the first Nasdaq-listed entity to tokenize its equity on a major blockchain, following its launch on Solana.
However, tokenized equities have also been met with skepticism within the crypto industry. On October 1st, Rob Hadick, general partner at crypto venture firm Dragonfly, told Cointelegraph that tokenized equities would significantly benefit traditional markets but may not offer the same advantages to the crypto industry as predicted. He suggested that using layer-2 networks for tokenized stocks could lead to value “leakage,” potentially limiting the flow of benefits back to Ethereum or the broader crypto ecosystem.
Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
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