Nasdaq Seeks SEC Approval for Blockchain-Based Tokenized Securities Trading

Nasdaq has formally requested the U.S. Securities and Exchange Commission to amend rules allowing securities listed on its exchange to trade as blockchain-based tokens alongside traditional electronic shares. The September 8, 2025 filing, first reported by Reuters and CoinDesk, WOULD enable investors to choose settlement methods per transaction while maintaining identical shareholder rights.

The proposal maintains existing clearing through the Depository Trust Co. while adding distributed ledger recordkeeping. This move aligns with growing institutional experimentation—from Robinhood's European stock tokens to Galaxy Digital's self-tokenized shares—as traditional finance converges with crypto infrastructure.

SEC Chair Paul Atkins' "Project Crypto" initiative signals regulatory interest in tokenization's transformative potential, though Commissioner Hester Peirce cautions that securities laws remain fully applicable. The decision could redefine market structure by bridging Wall Street and blockchain.