Tokenized Stocks: Nasdaq vs Onchain Markets
- Tokenization Insight

- Mar 21
- 5 min read

The most important tokenization development this week is the SEC’s approval of Nasdaq’s tokenized stock plan.
It reveals three critical principles shaping how the SEC, Nasdaq, and DTC view the future of tokenized equities:
Tokenization as a controlled market structure upgrade
Tokenized stocks are not a new asset class
Tokenization must not fragment liquidity
In this week’s Market Insight, we analyze the current ~$1B tokenized equities market through these lenses:
How does today’s market align with a controlled infrastructure upgrade model?
Are existing tokenized equities truly a separate asset class?
Is there liquidity fragmentation across platforms and instruments?
Let’s dive in.
Onchain tokenized stocks vs Nasdaq’s tokenization plan
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