Nasdaq Seeks SEC Approval to Trade Tokenized Stocks on Blockchain

Nasdaq has officially filed with the Securities and Exchange Commission (SEC) to enable the trading and settlement of tokenized versions of stocks and ETFs directly on blockchain. Under the proposal, these tokenized shares would mirror traditional equities in every way—offering the same voting rights, dividend entitlements, and economic protections—while settling through distributed ledger technology. The initiative is designed to operate on existing Nasdaq order books, ensuring continuity in market surveillance, execution, and investor protections.

The exchange sees blockchain as a solution to long-standing inefficiencies in clearing and settlement, cutting down on lag times and reducing operational costs. Tokenized securities would exist alongside conventional shares, with both accessible to investors under the same regulatory safeguards. Nasdaq has outlined a phased rollout, noting that full implementation will depend on coordination with key market infrastructure providers such as the Depository Trust Company (DTC).

If approved, the exchange anticipates being able to launch blockchain-based settlement of tokenized stocks as early as the third quarter of 2026. For Nasdaq, this move represents a major step toward merging traditional capital markets with next-generation digital rails, potentially opening the door to broader institutional adoption of blockchain in U.S. equities.