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Nate Geraci reports that nearly 40 major firms, including JPMorgan, Goldman Sachs, BlackRock, and Vanguard, are participating in a trial run with the Depository Trust & Clearing Corporation (DTCC) to tokenize securities. The trial also includes ETFs.
According to Geraci, tokens in this program are designed to be interchangeable with traditional shares and offer the same legal protections, dividends, and related benefits. DTCC plans to formally launch the tokenization program in October.
Geraci has previously covered activity in major ETFs, noting that the U.S. Treasury Department selected the State Street SPDR Portfolio S&P 500 ETF as the default for Trump accounts. He has also reported that SpaceX shares climbed almost 50 percent since their IPO. The latest DTCC trial follows a series of large-scale financial initiatives involving leading firms and major securities.