#NASDAQ

🏦 Nasdaq Goes Blockchain: What’s New?

The SEC has officially approved Nasdaq’s plan to tokenize Russell 1000 stocks and some index ETFs. This is the first step in transforming traditional securities into “programmable” assets.

📊Key details of the mechanism:

• Same rights: A tokenized stock is not a new asset, but a “digital wrapper.” It has the same ticker, ownership rights, and trading priority as a regular stock.

• Hybrid model: Trading will take place through traditional channels. If a blockchain wallet or broker’s system proves incompatible, the transaction will automatically “roll back” to the traditional DTC settlement method.

• SEC oversight: The regulator made it clear that moving an asset to the blockchain does not change its legal status. It is still a security subject to federal supervision.

📈Why is this important?

1. Programmability: As Stephen Wu (Clearpool) has pointed out, this makes stocks not just digital, but programmable, opening the door to complex financial smart contracts.

2. Speed: This is a step towards real-time settlement and a potential 24/7 operation in the future.

3. Institutional adoption: The hybrid model allows big players to test crypto technologies without giving up the security of traditional infrastructure.

⚠️ Risks and criticism

Despite the approval, industry groups (such as SIFMA and Cboe) are concerned about the lack of clarity about the role of the DTC settlement center, and critics at Better Markets warn of potential price gaps between “tokens” and regular stocks.

❓ What’s next? The market is now waiting for Nasdaq to announce a date for the official launch of the first tokenized trading.