The SEC has established a five-year framework for tokenized stock trading, and TD Cowen expects limited short-term demand

The U.S. Securities and Exchange Commission (SEC) established a five-year framework for tokenized stock trading days after the failure to advance the CLARITY Act. Investment bank TD Cowen stated that U.S. investors can conveniently access stocks, but issuers show limited interest in tokenization, and short-term adoption rates are expected to be low.

TD Cowen pointed out that perpetual contracts remain a greater attraction for gaining exposure to crypto asset stocks, with trading volumes far exceeding those of tokenized spot products.