Wall Street Tokenization Fight Intensifies as 50 Listed Companies Oppose OKX, NYSE Parent ICE Plans

A significant conflict has emerged in the U.S. equity market as 43 out of 62 major companies, including JPMorgan Chase, Nvidia, and Goldman Sachs, have formally objected to a proposal by OKX and Intercontinental Exchange (ICE) to tokenize their shares. The proposal, submitted under the U.S. Securities and Exchange Commission's innovation exemption framework, faces resistance due to corporate concerns regarding share price volatility, liquidity, shareholder rights, and asset custody. Allegations have surfaced that Nasdaq is actively encouraging these listed companies to oppose the OKX-ICE initiative, potentially to protect its own market position. Simultaneously, Nasdaq is developing its own 'Nasdaq Equity Tokens' project in collaboration with Kraken to bring stocks on-chain within existing regulatory structures. This dispute highlights the intensifying competition between traditional exchanges and crypto-native platforms for dominance in the emerging stock tokenization sector. While the initial 30-day notice period for the OKX-ICE proposal concludes on November 3, the widespread opposition underscores the friction between legacy market participants and new tokenization models. Meanwhile, TSV LLC is preparing to launch tokenized shares of Canton Strategic Holdings with explicit issuer consent, offering a contrasting approach to the contested OKX-ICE plan.