Nvidia and Nike Lead Biggest Wave Yet of Tokenized Stock Objections

In brief

• Twelve more companies, including Nvidia, Costco and Nike, objected to trading of their shares on OKXICE TSV, according to its Oct. 30 notice, the largest batch yet.
• The total has climbed from nine on Oct. 15 to 50, spanning tech, finance, retail, health care and energy.
• Under the SEC’s innovation exemption, a timely objection bars the venue from listing a third-party tokenized version of a company

Even Nvidia doesn’t want its shares on OKX and ICE’s planned tokenized stock venue.

The chipmaker is among 12 new companies listed as objecting issuers in an updated notice from OKXICE TSV dated Friday. The others are Costco, Nike, Micron, CrowdStrike, Palo Alto Networks, Reddit, Hewlett Packard Enterprise, Corning, Bloom Energy, IREN, and USA Rare Earth. The additions bring the total to 50 companies.

It’s the largest single batch yet. The list stood at 38 in the venue’s Oct. 28 notice, when Walmart and Eli Lilly joined, and at nine when the first objectors appeared on Oct. 15. It has more than quintupled since.

The newcomers span chips, cybersecurity, retail, and energy. Nvidia, Micron, and Corning join hardware peers such as AMD, Intel, and Broadcom, while CrowdStrike and Palo Alto Networks bring cybersecurity heavyweights to the list. IREN, a Bitcoin miner that has expanded into AI cloud computing, adds a name from the crypto industry itself.