Nine US Companies Have Spoken Out Against the Tokenization of Their Shares on the OKXICE Platform

• CoreWeave, Broadcom, Verizon, and six other companies objected to trading tokenized versions of their shares on OKXICE.
• Issuers are concerned about the potential impact of these instruments on share prices, liquidity, and volatility.
• SEC rules allow companies to opt out of listing tokenized shares on a specific venue.

Nine U.S. companies have spoken out against trading tokenized versions of their shares on OKXICE — a joint platform of crypto exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE). The information is contained in an official notice from the trading venue dated October 15, 2026.

The list includes:

• Cerebras Systems (CBRS)
• AppLovin (APP)
• Applied Digital (APLD)
• Rocket Lab (RKLB)
• CoreWeave (CRWV)
• Verizon (VZ)
• Applied Optoelectronics (AAOI)
• Broadcom (AVGO)
• UnitedHealth Group (UNH)

The OKXICE document does not disclose the reasons for the objections. However, a representative of Applied Optoelectronics told The Wall Street Journal that the company is unsure about the consequences of tokenization for its share price, liquidity, and volatility.

She said investors could also mistakenly assume that the issuer itself launched or approved the corresponding digital assets. At the same time, the company sees no clear benefits that would justify the potential risks to shareholders.

Eight of the nine companies had previously been included in a list of 63 issuers whose shares OKXICE planned to tokenize. The exception was Cerebras Systems.

Why Can Companies Opt Out of Tokenization?

On September 17, 2026, the U.S. Securities and Exchange Commission (SEC) granted a temporary regulatory exemption for venues that trade tokenized shares.

The five-year experimental regime allows such platforms to operate without registering as a traditional stock exchange, provided they meet the established conditions.

Under the rules, if tokenization is carried out by a third-party organization, the trading venue must notify the issuer at least 30 calendar days before trading begins. The company has the option to submit a formal objection within that period.

In that case, the venue will not be able to offer a tokenized version of the relevant shares. However, the ban applies only to the specific operator and does not mean the issuer is rejecting the technology altogether.

Nasdaq took a similar stance, declining to tokenize its own shares under the SEC’s new regime. Exchange representatives said the decision was driven by the risks of trading outside traditional market infrastructure, where quote disclosure requirements and pricing transparency standards apply.

At the same time, Nasdaq continues to develop its own solutions for trading tokenized securities.

How Will Objections Affect the OKXICE Launch?

Despite the refusal from nine issuers, OKXICE intends to launch trading in shares of dozens of other US companies. Potential assets include securities from Nvidia, Apple, Microsoft, Amazon, Alphabet, Tesla, JPMorgan Chase, and Walmart.

According to the documentation, the platform will use the X Layer Layer 2 network and liquidity pools based on Uniswap v4. The tokenized shares are expected to trade in pairs with the stablecoins USDC, USDG, and USDT.

To gain access, users will need to complete identity verification and sanctions screening. After that, their wallets will receive a non-transferable Soulbound Token (SBT) confirming their right to participate in trading.

However, the exact OKXICE launch date has not yet been disclosed.

Meanwhile, other market participants continue to build similar infrastructure. In particular, on October 9, Securitize announced the launch of tokenized shares of US companies on the Solana network, with a subsequent expansion to OKXICE and the NYSE digital venue.

At the same time, an earlier dispute over the issuance of similar instruments emerged between Robinhood and AMC Entertainment. The cinema chain’s management spoke out against tokens linked to its shares, stating that the company was not involved in the project.

Against this backdrop, Robinhood’s tokenized stocks attracted speculative activity worth hundreds of millions of dollars, even though the price of some tokens deviated significantly from the price of the underlying securities.

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