OKX-ICE tokenized stock plan faces objections from Nvidia, Costco, Nike and 47 other companies

Traders Union
All News
Crypto
OKX-ICE tokenized stock objections

Highlights

Nvidia, Costco, Nike, Micron Technology, and 46 other firms have now formally objected to OKXICE's tokenized stock plans, totaling 50 objectors to date.
Of the 62 companies initially targeted by OKXICE, 43 (about 69%) have objected, reflecting widespread issuer caution as tokenized equities approach launch.
Nineteen companies, including Apple, Amazon, and Tesla, have no disclosed objection, but their lack of response does not imply endorsement or guaranteed share availability at launch.

Objections mount ahead of issuer response deadlines

As first reported by CoinDesk, Nvidia, Costco, Nike and Micron Technology are among 12 additional companies objecting to plans by OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange, to list tokenized versions of their shares. An updated public notice dated Friday, Oct. 30, brings the number of objecting firms to 50.

The proposed venue is designed to let investors trade digital versions of U.S. stocks around the clock using stablecoins. It is being developed under the Securities and Exchange Commission's five-year Innovation Exemption, which allows issuers to block trading of their shares when tokenization is arranged by an unaffiliated third party.

Besides Nvidia, Costco, Nike and Micron, the latest notice adds CrowdStrike, Corning, IREN, USA Rare Earth, Bloom Energy, Palo Alto Networks, Reddit and Hewlett Packard Enterprise. Issuers can object on or before the 30th calendar day after receiving written notice, although the filing notes that disclosure of objections can lag because venues have up to five business days to publish them.

Market caution shapes early tokenization rollout

Of the 62 companies initially selected by OKXICE for trading, 43, or about 69%, have now objected. Seven additional objectors were not part of that original group, underscoring the breadth of issuer caution as tokenized equities move from concept toward launch.

Nineteen companies from the original selection still have no disclosed objection, including Apple, Amazon, Tesla, SpaceX, Netflix, Palantir and Strategy, as well as Robinhood, Coinbase, Circle, SoFi Technologies, Super Micro Computer, Lam Research, ServiceNow, GE Vernova, Boeing, Home Depot, Securitize and BitGo. The absence of an objection does not mean those companies endorse the platform or that their shares will be available when trading starts.

OKXICE co-chair Andrew Cuomo says initial reluctance is expected and argues more companies are likely to participate as they become more familiar with tokenization and its potential benefits, such as extended trading hours and faster settlement. The objections also do not necessarily amount to opposition to tokenization itself; JPMorgan Chase, which objected earlier, says it remains encouraged by the technology's potential but wants to be deliberate about how its shares are represented and traded.

Our earlier article on Micron Technology’s weakening technical setup noted that the stock had started losing momentum after its June peak, with chart patterns flashing rising downside risk. We highlighted key support and resistance zones traders were watching as indicators like RSI and MACD softened, framing a near-term test of whether Micron’s strong gains could hold through a pullback.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.