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Fifty publicly traded companies have registered objections to having their shares tokenized and traded on OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange, the parent of the New York Stock Exchange, crypto.news reported. The count, drawn from the venue’s October 30 public notice, covers names spanning chipmakers, retail and enterprise software.
Journalist Eleanor Terrett first flagged the updated total in a November 1 post. Blockonomi also covered the climb, describing it as a rise from 38 objections to 50 over two days, before OKXICE has announced any launch.
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Key facts
- OKXICE’s October 30 notice lists 50 objecting issuers, up from 38 on October 28 and 26 on October 26.
- Twelve companies were added in the latest notice, including Nvidia, Nike, Costco, Micron Technology and Reddit, along with CrowdStrike, Corning, IREN, USA Rare Earth, Bloom Energy, Palo Alto Networks and Hewlett Packard Enterprise.
- Earlier objectors include Microsoft, Alphabet, Goldman Sachs, JPMorgan Chase, AMD, Intel and Walmart; Blockonomi adds Eli Lilly to that group.
- The venue initially identified shares from 62 companies, represented by 63 stock symbols, for possible tokenization.
- No confirmed launch date for the proposed U.S. trading service has been announced.
What the objections do under the SEC exemption
The objections are not symbolic. Under the temporary trading exemption the SEC published on September 17, a venue must notify a company before offering shares tokenized by an unaffiliated third party. Issuers then have 30 calendar days to object in writing. A timely objection bars that stock from the exempt arrangement at that venue.
The limit travels with the venue, not the asset. It does not stop a company from embracing tokenization on other platforms or issuing its own digital shares. OKXICE’s notices name the objectors and their stock symbols but give no individual reasoning, so the filings do not show why Nvidia or Nike declined.
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Separately, the exemption requires tokenized securities to carry the economic and ownership rights of ordinary shares, including dividends, voting and claims on assets, with the underlying stock held in custody and backed one-for-one.
How the venue would trade
OKXICE LLC, a Texas company split evenly between Intercontinental Exchange Holdings and OKC USA Holding, proposes round-the-clock trading through permissioned Uniswap v4 liquidity pools deployed on OKX’s X Layer. There would be no order book; prices would come from assets in each pool, and the venue says quotes may diverge from the underlying stock, especially outside regular market hours.
Participants would clear identity checks, sanctions screening and wallet verification, then receive a nontransferable credential granting access. Blockonomi lists USDC, USDG and USDT as the payment stablecoins in the plan. The October 30 notice states OKXICE will not issue the tokens or hold customer assets.
Volume is capped under the exemption: 0.25% of the prior month’s average daily volume for 75 leading stocks and 2.5% for another 250 symbols, per Blockonomi. Trading must stop whenever the underlying stock is halted on its primary exchange.
The two outlets part ways on the record of the objections themselves. crypto.news traces the sequence as 26 on October 26, seven in an October 27 notice and five more on October 28, describing 24 additions since October 26, while Blockonomi frames the headline change as 38 to 50. crypto.news also notes that some objectors were never on the original 62-company list, so the total does not mean 50 of those issuers have rejected the plan.
Nasdaq, meanwhile, has declined to comment on claims that its representatives encouraged listed companies to oppose the venture, and says it favors an issuer-led approach to tokenization. It has said it intends to work with Kraken on such a model aimed at the second quarter of 2027.
Why it matters
The objections test how much control a listed company keeps over secondary-market claims on its stock once tokenization reaches permissioned venues. For OKXICE, each valid objection trims the universe it can legally offer, and the roster now reaches megacap names in chips and apparel. For issuers, the filings are a low-cost way to keep their shares off an unaffiliated venue without needing to launch competing tokens. Applied Optoelectronics has previously raised concerns about liquidity and possible confusion over issuer endorsement, according to Blockonomi.
What to watch
The next OKXICE public notice will show whether the tally keeps climbing past 50 and whether any objector reverses course. Watch also for the SEC’s handling of the five-year Innovation Exemption and for detail on Nasdaq’s planned issuer-centered model.
Nothing here is financial advice, and markets in tokenized securities and crypto assets remain volatile and uncertain.
Sources: crypto.news, Blockonomi
