Tesla, SpaceX and Amazon Object to OKX-ICE Tokenized Stock Venue
Six more issuers, including Tesla, SpaceX and Amazon, have objected to OKX-ICE tokenized trading, lifting the total to 56 companies, per several outlets.
Six more companies have told OKXICE TSV they don't want their shares offered in tokenized form on its planned trading venue. Tesla, SpaceX, Amazon, Netflix, Lam Research and SoFi Technologies appear in an updated notice dated Monday, according to Decrypt. That brings the number of objecting companies to 56.
CoinDesk reported that the objections now cover nearly 80% of the venture's initial stock selection, and that a deadline is approaching. The sources reviewed do not spell out what that deadline is.
How the count has grown
Decrypt said the list began with nine objectors on Oct. 15 and rose to 38 on Oct. 28, after Walmart joined. It reached 50 in the Oct. 30 notice, when Nvidia, Costco and Nike led what Decrypt called the biggest batch yet.
The outlets differ on how the total splits between the original lineup and other names. The Defiant said disclosed opt-outs cover 50 of the venture's 63 originally proposed symbols, leaving 13 without a published objection. Bitcoin.com News counted 49 of 62 targeted firms, plus seven companies outside the proposed lineup. Both versions work out to roughly four-fifths of the original list, and the Bitcoin.com figures add up to the same 56 total.
What the objections do and don't block
Decrypt explained that the process stems from the SEC's innovation exemption, which the agency unveiled in September after the Clarity Act stalled in the Senate. A venue must notify a company before it offers a version of the company's shares that an unaffiliated third party has tokenized. If the company objects in writing within 30 days, the venue cannot make that stock available, and the objection applies only to that venue.
OKXICE TSV is a 50-50 joint venture between NYSE owner Intercontinental Exchange and OKX's U.S. holding company. Decrypt said it plans to offer tokenized U.S. stocks around the clock through permissioned Uniswap v4 pools on OKX's XLayer blockchain, paired with stablecoins such as USDC. Users would need to pass identity and sanctions checks and hold a nontransferable "soulbound" token that the venue's smart contracts verify before each transaction.
The objections leave some routes open. According to Decrypt, the notice says the venue can still list shares tokenized by the issuers themselves, though it names none. It also says tokenized stocks offered by the venue are not limited to trading on OKXICE alone.
Why it matters and what to watch
For traders, the objections narrow the menu of stocks that could appear on a regulated-style tokenized venue. Decrypt noted that Amazon, Tesla and Netflix now sit alongside Microsoft, Alphabet and Nvidia among large-cap holdouts, and that Apple is one of the few big names not yet on the list. SoFi, which offers crypto trading, is also among the objectors.
Cointelegraph pointed to a contrast in the SpaceX case. It said the company's objection comes months after crypto platforms offered tokens tied to its shares, an offshore trading boom that the new venue's rules would not replicate for SpaceX.
Next to watch are further updates to the OKXICE TSV notice, including whether the 13 or so remaining original symbols draw objections and whether any issuer chooses to tokenize its own shares. The venue's final stock lineup is still unsettled.
Sources
- Amazon, Tesla and SpaceX join OKX–ICE tokenized stock objections as deadline looms CoinDesk
- Amazon, Tesla and SpaceX Join Objections to OKX–ICE Tokenized Stocks The Defiant
- Elon Musk’s Tesla and SpaceX Block Their Stock From OKX-ICE Tokenized Venue Decrypt
- Elon Musk’s SpaceX and Tesla Join Amazon in Opposing OKXICE Tokenized Stocks Plan Bitcoin.com News
- Tesla, Amazon Deal Fresh Blow to OKX Tokenization Push U.Today
- SpaceX blocks tokenized stock listing on OKXICE despite offshore trading boom Cointelegraph
Written with AI assistance from the sources above and checked against them. Not investment advice.