Six more companies have reportedly objected to having their shares listed in tokenized form on OKXICE, a proposed platform backed by cryptocurrency exchange OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange.
The latest reported objections include Wells Fargo, Arm Holdings and Intuit, adding to opposition from Microsoft and Alphabet, Google’s parent company. According to reporting cited by Cointelegraph, 22 companies had filed objections by Friday, October 23, to the proposed listings.
The platform is being developed under an innovation exemption proposed with the US Securities and Exchange Commission. OKXICE initially proposed listing tokenized versions of shares in 62 companies when it filed with the SEC earlier this month. A tokenized stock is a digital representation of an equity designed to trade through blockchain-based infrastructure, although the proposed platform’s filings and operating model remain subject to regulatory processes.
Companies raise concerns over participation
The objections show that many potential issuers are unwilling to be among the first companies to test the model. Andrew Cuomo, co-chair of OKXICE and a former governor of New York, told Cointelegraph that the venture expected more companies to object for that reason.
Of the 22 companies reported to have objected, 16 were listed on Nasdaq and six were listed on the New York Stock Exchange. That distribution is relevant because the initiative would involve companies whose conventional shares already trade on established US exchanges, rather than newly issued securities.
Wells Fargo and Arm Holdings declined to comment, while Intuit had not immediately responded to a request for comment, according to the reporting. The source material did not give reasons for any individual company’s decision to opt out.
Nasdaq warns issuers to proceed carefully
Nasdaq issued guidance in September for companies considering the SEC innovation exemption for tokenized stock trading. The exchange said issuers should be cautious, warning that the effects on liquidity, price discovery and long-term shareholder value might not be visible until well after such an experiment had begun.
Liquidity refers to how easily an asset can be bought or sold, while price discovery is the process through which trading helps establish an asset’s market price. Nasdaq’s comments underscore the uncertainty surrounding how tokenized versions of listed shares could interact with existing exchange markets.
The reported objections therefore represent more than a company-by-company response: they highlight the broader hesitation among listed firms about participating in an untested market structure. At the same time, the proposal remains significant because it brings a major cryptocurrency exchange and the owner of the NYSE together around a blockchain-based approach to stock trading.
Moneyiar market picture
Moneyiar data at the stated times showed mixed performance among selected digital assets:
- Filecoin (FIL): $0.9420045957, down 4.94% over 24 hours and 18.88% over seven days, as of October 24, 2026, at 08:03 +03:30.
- Compound (COMP): $23.8069064103, down 2.49% over 24 hours but up 8.14% over seven days, at the same time.
- Four (FORM): $0.2248513817, down 4.89% over 24 hours and 12.14% over seven days, at the same time.
- Propy (PRO): $0.3327195848, down 3.87% over 24 hours and 10.4% over seven days, as of October 23, 2026, at 14:49 +03:30.
