#NasdaqTokenizedTradingProposal

You know this Nasdaq proposal has me thinking a lot about how Blockchain might actually fit into the stock market with out causing choas

They submitted it back in September 2025, basically wanting to let regular stocks and ETFs trade either the usual way or as tokenized versions, all on the same platform.

The setup sounds pretty careful. Those tokenized shares would need to match the traditional ones exactly—same CUSIP code, same voting rights, dividends, all of it. No shortcuts there. Traders could pick, just for that one trade, if they want blockchain settlement. The Depository Trust Company handles the clearing either way, and they're apparently gearing up for this. Execution, pricing, monitoring—nothing shifts. It keeps everything tied to the broader market rules.

Nasdaq figures blockchain could deliver some real upsides, like sharper transparency, maybe simpler fractional shares, solid audit records, and down the road, quicker settlements. But they insist on staying inside current SEC guidelines. Approval would mean tokenized securities trading on a major U.S. exchange for the first time, kind of easing traditional finance toward blockchain in a controlled manner. They're aiming for something like late 2026 rollout, if the DTC tech lines up and regulators agree.

Today—December 27, 2025—the SEC is deep into formal review. They started proceedings mid-December to weigh approval or rejection properly. Comments are coming in until January 7, 2026, with rebuttals after that. Opinions split a bit. The Securities Industry and Financial Markets Association likes it, calling it a sensible early move that keeps investor safeguards intact. On the other hand, Ondo Finance—they're heavy into tokenizing assets—wants more clarity on DTC's exact settlement process. They worry hidden details might tilt things toward bigger players.

That caution makes sense to me. When you're touching infrastructure handling enormous value, openness counts. Still, plenty see it as a push toward better markets. Hard to say how it'll shake out in the next months.

Are you leaning toward it opening doors wider, or does the uncertainty give you pause?