The U.S. Securities and Exchange Commission (SEC) has officially initiated the approval process for Nasdaq’s tokenized securities trading proposal, marking a significant step for mainstream US exchanges toward tokenized financial infrastructure. The proposal aims to allow Nasdaq-listed and traded tokenized securities, including stocks, sparking high market interest in the on-chain prospects of Real World Assets (RWA).
According to the latest order issued by the SEC, the regulatory agency is soliciting further public comments on Nasdaq’s proposed rule change to assess whether to approve their tokenized securities trading. The SEC noted that, due to the important legal and policy issues involved, launching a formal approval procedure is necessary and appropriate.
Currently, the SEC has received feedback from multiple parties. The Securities Industry and Financial Markets Association (SIFMA) expressed support for the proposal, believing that tokenization can help enhance market efficiency and transparency. However, there are opposing voices, including Cboe Global Markets, Better Markets, and Ondo Finance, mainly concerned with market structure, investor protection, and potential systemic risks.
Nasdaq has previously clarified its strategic direction regarding tokenization. Notably, Galaxy Digital has become the first Nasdaq-listed company to tokenize its common stock on the Solana blockchain, providing a real-world example for traditional stock on-chain.
From an industry perspective, securities tokenization is believed to significantly shorten settlement cycles, improve trading transparency, and reduce operational costs. However, the SEC also emphasizes that any new mechanism for trading tokenized securities must strictly comply with existing securities regulations and have sufficient safeguards against fraud, market manipulation, and technical failures.
At the critical infrastructure level, the SEC has sent a no-action letter to the Depository Trust & Clearing Corporation (DTCC) and its subsidiary, the Depository Trust Company (DTC), allowing them to tokenize certain custodial assets. This implies that if Nasdaq’s proposal is approved in the future, relevant tokenized securities could be cleared and settled within the DTC system, which is seen as a key prerequisite for final implementation.
Meanwhile, the U.S. Commodity Futures Trading Commission (CFTC) is also advancing regulatory innovation, having launched a pilot program that permits certain tokenized assets to be used as compliant collateral in the U.S. derivatives markets.
Overall, the SEC’s progress on Nasdaq’s tokenized securities proposal, combined with policy developments at DTCC and CFTC, indicates that U.S. regulators are taking a cautious yet open approach, gradually paving the way for the integration of traditional finance with blockchain technology.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on April 15
Gate News message, according to the April 15 update, Bitcoin ETFs recorded a single-day net inflow of 4,566 BTC (approximately $337.41 million) and a 7-day net inflow of 6,753 BTC (approximately $499.04 million). Ethereum ETFs saw a single-day net inflow of 23,405 ETH (approximately $54.37 million)
GateNews7h ago
Y Combinator USDC investment on Solana
Y Combinator has completed its first venture capital investment paid entirely in stablecoins, settling $500,000 in USDC on the Solana blockchain for prediction-markets startup Totalis. The transaction, reported on April 13, 2026, marks a concrete shift in how the world’s most influential startup
CoincuInsights12h ago
Circle Mints 750M USDC on Solana in Past 24 Hours
Gate News message, April 15 — Stablecoin issuer Circle minted 750 million USDC on the Solana blockchain in the past 24 hours.
GateNews15h ago
Fed Chair Nominee Kevin Warsh Discloses Investments in Solana, Optimism, and Compound
Kevin Warsh, nominated for Federal Reserve Chair, has disclosed investments in various crypto projects including Solana and Compound. Experts believe he likely invested indirectly through digital asset-focused funds ahead of his confirmation hearing.
GateNews16h ago
Gate’s “Crazy Wednesday” is live with a hot launch. Complete tasks to win XRP and Glenfiddich whisky. For USDT savings, earn up to 100% APY. For BTC/ETH/SOL staking, earn up to 16% mining APY.
Gate News message, according to Gate’s official announcement on April 15, 2026
Gate launches a “Crazy Wednesday” campaign, running from April 15, 2026 at 14:00 to April 19, 2026 at 16:00 (UTC+8). Users complete multiple tasks to unlock mystery boxes, with a chance to win XRP tokens and Glenfiddich whisky. The mystery box tasks include multiple categories such as flash swaps, spot, and futures trading, as well as top-ups, invitations, and VIP upgrades, and each tier corresponds to a different number of mystery box openings.
Campaign Two launches a USDT wealth-management product, with a 14-day fixed-term annualized yield of 6%. New users can also participate in a 3-day product offering 100% annualized yield. In addition, Yu’e Bao also offers multi-currency wealth-management options such as USAT, USDD, 0G, and APT, with annualized returns of up to 300%. Campaign Three introduces a boosted rewards policy for staking users, offering up to a 16% annualized return for staking BTC, ETH, and SOL; for SOL staking, staking 0–1 coins can yield up to 16% annualized.
GateAnnouncement16h ago
Solana Foundation Partners Triton One to Redesign Onchain Data Layer as SOL Gains 3%
The Solana Foundation is collaborating with Triton One to enhance its on-chain data access layer, improving scalability and data retrieval. The redesign features two core modules: Accounts for adaptive indexing and Ledger for efficient historical data management. SOL is currently trading around $84.
GateNews04-14 20:22
