Robinhood backs OKX-ICE tokenized share trading as most issuers opt out

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Robinhood and OKX-ICE tokenized shares

Highlights

Robinhood confirmed it does not object to having tokenized versions of its shares traded on OKXICE, joining Securitize and BitGo as non-opposing firms.
About 90% of the 62 companies initially proposed for OKXICE tokenized trading have opted out, narrowing the starting roster to six crypto-linked firms.
OKXICE will operate under an SEC five-year innovation exemption, allowing automated market maker trading for tokenized stocks while issuers have 30 days to reject listings.

Issuer lineup narrows for OKX-ICE venue

As first reported by CoinDesk, Robinhood confirmed it does not object to having tokenized versions of its shares traded on OKXICE, making it one of only a few companies still in the initial lineup. A spokesperson said the brokerage sees tokenization as the future of financial markets and prefers to help build that market rather than remain on the sidelines.

The company joins Securitize and BitGo among the known firms that have not opposed inclusion. According to CoinDesk’s tally based on the venture’s latest public notice dated Nov. 5, about 90% of the 62 companies originally proposed for trading have opted out.

The six companies without a disclosed objection in that filing all have strong links to the crypto sector: Robinhood, Securitize, BitGo, Circle, Coinbase and Strategy. That leaves the planned venue with a much narrower starting roster than initially envisioned.

SEC exemption framework and industry tensions

The venue is set to operate under the SEC’s five-year innovation exemption, which allows qualifying platforms to trade tokenized stocks through automated market makers rather than a traditional order-book model. Under that framework, venues must notify issuers before listing their shares and give them 30 days to reject the listing.

Robinhood’s position follows its own dispute over stock tokenization earlier this year. In September, AMC Entertainment CEO Adam Aron threatened legal action over Robinhood tokens linked to AMC shares, arguing they used the company’s name without consent, denied investors shareholder rights and could hurt AMC’s ability to raise capital.

Robinhood defended that offering, and Chief Executive Vlad Tenev has argued that issuers should not have veto power over venues listing tokenized shares. The company’s decision on OKXICE aligns with that view and underscores a wider split between crypto-focused market operators and traditional issuers over how tokenized equity trading should develop in the U.S.

Earlier, we reported that the Philippine Social Security System said its equity portfolio has generated P204 billion in realized gains since 1968 despite recent paper losses.

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