Overview
- Digital assets chief Matt Savarese called the effort a top priority and said the exchange will answer public comments and SEC questions "as fast as we can" during the ongoing review.
- The proposal would let investors trade digital representations of listed equities that carry the same rights as the underlying shares, with orders executed on the existing Nasdaq book under national market system oversight.
- Nasdaq frames near-term gains in back-end processing, targeting faster settlement and improved collateral usage, with atomic settlement a longer-term goal as infrastructure matures.
- Regulatory and market momentum is building elsewhere, including Robinhood’s European rollout covering nearly 800 U.S. securities, Switzerland’s BX Digital approval with Ondo Finance for real-time settlement, and Bitget’s tokenized equity volume doubling to $1 billion.
- Galaxy Digital tokenized its own Nasdaq-listed shares on Solana through Superstate, highlighting growing experimentation even as crypto investors debate whether such models chiefly benefit traditional finance.