Why this investment bank expects little demand for tokenized stocks despite SEC’s new trading rules
TD Cowen expects limited demand for tokenized stocks despite new SEC rules opening a path for trading outside traditional markets.
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Summary
- The SEC created a five-year framework for tokenized stock trading just days after the CLARITY Act failed to advance.
- TD Cowen sees limited near-term adoption as U.S. investors already have easy access to stocks and issuers have shown little interest in tokenization.
- Perpetual futures remain the bigger draw for crypto-based stock exposure, with TD pointing to far higher trading volumes than tokenized spot products.
