On July 2, 2025, the Securities Industry and Financial Markets Association (SIFMA) voiced strong opposition to digital asset companies offering tokenized equities. (Source: Reuters, March 17, 2025) SIFMA urged the SEC to deny requests from firms like Coinbase and Kraken, advocating for a transparent public process.
Digital asset firms, including Coinbase and Kraken, are interested in launching tokenized equities. If approved, this could allow blockchain-based trading of traditional stocks. Kraken plans to launch tokenized stock trading in Europe, Latin America, Africa, and Asia.
The SEC is also considering numerous proposals for crypto exchange-traded funds (ETFs). The SEC is working with U.S. exchanges on a generic listing framework for token-based ETFs. As of July 2, 2025, Coinbase Global Inc. (COIN) is trading at $354.45, up 5.67% from the previous close.