Nasdaq Seeks SEC Approval to Launch Tokenized Stocks in 2025

​Nasdaq is making a push for SEC approval to list tokenized stocks, which would allow digital versions of publicly traded shares to be listed directly on the exchange. The proposal, submitted on September 8, is part of Nasdaq's broader strategy to bring blockchain technology to the U.S. equities market.

In an interview with CNBC, Matt Savarese, head of Nasdaq's digital assets strategy, expressed that the exchange is ready to move quickly once the SEC finishes reviewing public comments. "We'll just move as fast as we can," he said, emphasizing that the team is prepared to respond promptly to regulatory feedback. Nasdaq hopes to ensure that the product is launched within the framework of existing regulations.

If approved, Nasdaq would be the first major U.S. exchange to offer tokenized equities, potentially setting a precedent for how digital assets can interact with traditional financial markets. However, Savarese clarified that Nasdaq does not aim to overhaul Wall Street's infrastructure but to bring tokenization into the mainstream in a responsible, investor-led manner. Nasdaq intends to operate within SEC rules, ensuring compliance with existing market frameworks.

While proponents of tokenized shares highlight advantages like 24/7 trading and faster settlement, critics are cautious about how the technology will impact the crypto sector. Some believe tokenization could benefit traditional markets more than the crypto space, leading to a divide within the digital asset industry.

Nasdaq's filing represents a significant step toward implementing blockchain-based equities, marking a shift from theoretical discussions to concrete action on a major U.S. exchange. The timing of approval remains uncertain, as it will depend on how the SEC evaluates potential risks and compliance considerations.