Why this investment bank expects little demand for tokenized stocks despite SEC’s new trading rules
The Securities and Exchange Commission (SEC) opened a new path for tokenized stock trading in the U.S. last week, adding momentum to a technology that has swept through financial markets over the past year. TD Cowen, however, doesn’t expect investors to rush through the door. The agency’s new Innovation Exemption creates a five-year framework for qualifying tokenized securities venues to operate automated market maker pools without registering as exchanges.