Wall Street’s Tokenized-Streetview Draws 56 Exit Artists as OKX-ICE Takes the Block 🧱

Tesla, SpaceX, Amazon, Netflix, Lam Research and SoFi Technologies have joined 50 other companies in objecting to third-party tokenized versions of their shares being offered on OKXICE TSV, a planned venue operated by Intercontinental Exchange and OKX. The additions, disclosed in an updated notice dated Monday, bring the total number of objecting issuers to 56, including ticker SPCX for SpaceX.

The boycott grew from nine companies in OKXICE TSV’s first notice on Oct. 15 to 38 on Oct. 28, when Walmart was among the objectors. A Friday update added 12 issuers—Nvidia, Costco, Nike, Micron, CrowdStrike, Palo Alto Networks, Reddit, Hewlett Packard Enterprise, Corning, Bloom Energy, IREN and USA Rare Earth—taking the total to 50 before Monday’s latest batch. Apple is now one of the few megacap names absent from the list.

Under the SEC’s innovation exemption, unveiled in September after the Clarity Act stalled in the Senate, a tokenization venue must notify a company before offering a third-party tokenized version of its shares. If the company objects in writing within 30 days, the venue cannot make that stock available for trading, according to the SEC’s order. An objection applies only to that venue.

OKXICE TSV, a 50-50 joint venture between NYSE owner Intercontinental Exchange and OKX’s U.S. holding company, plans to offer tokenized U.S. stocks 24/7 through permissioned Uniswap v4 pools on OKX’s XLayer blockchain, paired with stablecoins such as USDC. Users must pass identity and sanctions checks and hold a nontransferable “soulbound” token that the venue’s smart contracts verify before every transaction.

The companies have not explained their decisions. When Nasdaq opted its own shares out of the exemption, a spokesperson told The Wall Street Journal that Nasdaq does not want its stock trading on a venue that does not show the best prices in real time or report trades to the consolidated tape. Crypto in America also reported that Nasdaq may be encouraging listed companies to object, with one executive saying, “Our Nasdaq rep had reached out to us regarding OKX listing, suggesting we should object and that they would hold a call to discuss why,” and adding, “Nasdaq is definitely partly behind this.”

Objections prevent OKXICE TSV from listing third-party tokenized versions of the affected stocks, but the venue says it can still list shares tokenized by the issuers themselves and that its tokenized stocks are not restricted to trading on OKXICE alone. The notice does not identify any issuer-led listings.