Overview
- The SEC’s no-action relief lets the Depository Trust Company mint and burn blockchain tokens mirroring securities it already holds within a controlled pilot.
- Movement occurs only between DTCC-registered wallets, with a DTCC "root wallet" retaining authority to reverse or correct transactions.
- Covered instruments include Russell 1000 equities, major index ETFs, and U.S. Treasury bills, notes, and bonds, which participants may opt to convert to tokenized entitlements.
- When tokenized, positions are debited to a digital omnibus account and issued on-chain with the same ownership rights and investor protections as the traditional entries.
- DTCC plans a 2026 launch on pre-approved public or private blockchains and must file quarterly reports on usage metrics, network choices, outages, wallet counts, and any reversals.