The U.S. Securities and Exchange Commission approved a Nasdaq rule change to launch a tokenized securities pilot program. This initiative introduces blockchain-based digital representations of stocks and ETFs to trade alongside traditional assets. The Depository Trust Company will operate the program and manage all post-trade settlements.
Tokenized shares will utilize existing tickers, CUSIP numbers, and order books to maintain price parity with traditional shares. Investors in these digital assets receive identical rights, including voting power and dividend payments. The initial rollout targets liquid assets within the Russell 1000 index. The program also includes major ETFs tracking the S&P 500 and Nasdaq-100.