Winners and losers of the SEC’s new tokenized stocks rules
60-second summary
The SEC unveils a five‑year framework permitting tokenized stocks, but only select products and venues qualify, leaving Uniswap, Robinhood, Coinbase and Kraken competing for market share; firms that secure regulatory clearance could capture institutional liquidity and drive price‑discovery innovation, while those excluded risk losing relevance as token‑based equity trading expands across the industry.
The SEC has opened a five-year path for tokenized stocks, but only some products and venues fit the model. Will Uniswap, Robinhood, Coinbase or Kraken come out on top?