9 out of 63 were rejected. This morning’s news: Of the 63 tokenized U.S. stocks that OKXICE, the joint venture between OKX and NYSE parent ICE, reported to the SEC, issuers including Broadcom, Verizon, and UnitedHealth vetoed some during the 30-day window. The list is down to just 54, an objection rate of 14.3%.
Applying the hard cap under the innovation exemption: a single venue can list at most 75 stocks. With 12 slots left, at a 14.3% objection rate they’d need to notify about 14 more issuers to fill them. Even 75 stocks would amount to only 15% of the S&P 500. I don’t think that’s enough to accommodate an index; it can only serve as an alternative channel for individual stocks. If I were to participate, this is the layer I’d be watching: $LINK . What do you think—can that 15% ceiling hold up?
Applying the hard cap under the innovation exemption: a single venue can list at most 75 stocks. With 12 slots left, at a 14.3% objection rate they’d need to notify about 14 more issuers to fill them. Even 75 stocks would amount to only 15% of the S&P 500. I don’t think that’s enough to accommodate an index; it can only serve as an alternative channel for individual stocks. If I were to participate, this is the layer I’d be watching: $LINK . What do you think—can that 15% ceiling hold up?