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The U.S. Securities and Exchange Commission (SEC) has approved a rule change allowing Nasdaq to trade securities in tokenized form.
With today’s official decision, a significant step has been taken in the integration of traditional finance and blockchain technology.
The proposal, first submitted by Nasdaq in September 2025, received final approval after evaluations and two separate amendment processes. The SEC’s decision paves the way for certain assets to be represented and traded on the blockchain, particularly within the scope of the tokenization pilot program (DTC Pilot).
According to the new regulation, tokenized securities will be able to trade on Nasdaq in the same order book as their traditional versions. Initially, the assets included in the tokenization program will be limited. Accordingly, stocks included in the Russell 1000 index, as well as ETFs tracking major indices such as the S&P 500 and Nasdaq-100, will be able to be tokenized and traded under the pilot program. Nasdaq will regularly share the list of eligible assets through investor announcements.
Market participants who wish to trade using tokens will select a special “tokenization preference” option when placing orders.
This preference will determine whether the transaction will be settled in token form or traditional form. It may include additional information such as blockchain selection and digital wallet address. In the post-transaction process, Nasdaq will share these preferences with Depository Trust Company (DTC), and settlement transactions can be carried out in token format.
*This is not investment advice.
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