Coinbase, Robinhood, and Circle Could Win Big From SEC Tokenized Stock Move

Coinbase, Robinhood, and Circle could benefit from the SEC’s five-year exemption for tokenized US stocks traded through AMMs on public blockchains.

Tokenized Assets and RWA News

Wall Street is beginning to map out who stands to gain from the SEC's decision to open a regulatory path for tokenized US stocks. The answer, according to analysts at Goldman Sachs and Citizens, runs through three names already familiar to the crypto industry: Coinbase, Robinhood and Circle.

The SEC's five-year innovation exemption allows qualifying tokenized US stocks to trade through

on public blockchains. Tokens must preserve full shareholder rights, including dividends and voting. Trading venues operating under the exemption face caps on volume and limits on the number of stocks they can list. Companies also have the right to object before any third party can begin trading a tokenized version of their shares.

Goldman Sachs identified Coinbase's existing tokenized-equity offering as already meeting many of the SEC's requirements. The product includes dividend features comparable with the underlying stock. Coinbase CEO Brian Armstrong

this week that voting rights are "coming soon," which would close the remaining gap.