• Nasdaq is prioritizing SEC approval for tokenized stock trading.
• Digital assets chief Matt Savarese says the exchange will respond quickly to SEC questions.
• Nasdaq says tokenization won’t replace traditional markets but will expand investor access.
• Crypto industry remains split on whether tokenized equities benefit the broader ecosystem.
• Tokenization of stocks has become a major trend among major financial institutions.

Nasdaq is accelerating its efforts to introduce tokenized versions of publicly traded stocks, making regulatory approval one of its highest priorities. Matt Savarese, the head of digital assets strategy at Nasdaq, said the exchange intends to move as quickly as possible as it works through the Securities and Exchange Commission’s review process. Speaking in an interview with CNBC, Savarese explained that the main focus now is reviewing public feedback and preparing detailed responses to the SEC’s upcoming questions. He added that Nasdaq hopes to collaborate closely with regulators to ensure the proposal meets all requirements and progresses without unnecessary delays.

The proposal, submitted on Sept. 8, aims to allow investors to buy and sell tokenized shares directly on the exchange. These digital representations of stocks would function under existing SEC frameworks, giving investors expanded access without changing the fundamental structure of traditional equities trading. Savarese stressed that Nasdaq is not trying to disrupt or replace the current financial system. Instead, the goal is to introduce tokenization in a controlled and responsible way, providing an upgrade to existing infrastructure rather than an overhaul. He noted that Nasdaq has historically led innovation in financial markets, including its early move from paper-based trading to electronic markets.

Tokenized equities have quickly become one of the most discussed topics in the crypto and traditional finance sectors this year. Several major companies have begun experimenting with on-chain versions of their shares. Earlier in September, Galaxy Digital announced it had tokenized its equity on the Solana blockchain, becoming the first Nasdaq-listed company to do so. Supporters argue that tokenization can increase efficiency, improve settlement times and open up global access to financial markets.

However, not everyone in the crypto industry believes tokenized stocks will benefit the broader ecosystem. Some argue that tokenization may help traditional markets more than crypto. Dragonfly general partner Rob Hadick commented that if tokenized equities run on layer-2 networks, most of the value may stay within traditional financial systems instead of flowing back into crypto ecosystems like Ethereum. This difference in opinion shows how divided the industry remains on what role tokenized stocks will play in the future.

Despite the debate, Nasdaq is positioning itself as a leader in the shift toward digital markets. By pushing forward with regulated tokenization under SEC oversight, the exchange hopes to set a standard for how modern financial products can bridge traditional systems and blockchain technology.

Final Thought

Nasdaq’s push for tokenized stocks reflects a major shift toward digital financial infrastructure. While the crypto industry debates the long-term impact, Nasdaq is moving ahead with a regulated, mainstream approach that could open the door for broader adoption across global markets.