US SEC clears tokenized stock trading under five-year exemption
AMC CEO Adam Aron argued that by creating exposure to AMC stock without the issuing company’s involvement, Robinhood and others enabling the practice undermine the traditional relationship between companies and their shareholders.
Robinhood said this week it plans to let stock-token holders redeem their tokens for the underlying shares on a one-to-one basis and to add voting rights, according to CNBC.
Shares in Securitize rose as much as 24 percent on Thursday and were last up 14 percent.
The company became the first major tokenization firm to go public in the US in early July and holds roughly 9 percent of the tokenized market by assets under management, according to Needham Securities.
The long-term leaders “will be those platforms that can secure the broadest base of institutional customers,” Needham analyst John Todaro, who initiated coverage of the stock with a buy rating, wrote last week in comments reported by CNBC.
