Thirty-three public companies, including JPMorgan and Coca-Cola, have formally objected to plans for tokenized trading of their shares on OKXICE, a round-the-clock market backed by crypto exchange OKX and Intercontinental Exchange, the owner of the New York Stock Exchange.

The latest filing shows AMD, Adobe and Dell joined the objection list on Tuesday. The source article says 30 companies from OKXICE’s original 62-stock lineup have now opted out, while Apple, Nvidia, Tesla and Amazon do not appear among the objections.

A growing list of companies says no

The objections are tied to a new US Securities and Exchange Commission framework that allows qualifying venues to offer tokenized US shares while also giving issuers a limited window to push back. Under that exemption, a company has 30 days to object, and a timely filing blocks that specific venue from listing the tokenized version of its stock.

In this case, the venue is OKXICE. The newly added names in the latest filing were AMD, Adobe and Dell, joining a broader group that already included large, widely held companies such as JPMorgan and Coca-Cola. The article frames the result as a significant reduction in the platform’s planned roster.

How the dispute reached regulators

The broader debate intensified in September after AMC Entertainment chief executive Adam Aron criticized Robinhood for offering tokens linked to AMC’s share price without the company’s permission. According to the source, AMC shares rose about 15% that morning.

Aron said the offshore product, offered from Jersey, created distrust around financial markets. The article notes that Robinhood’s price-linked tokens were different from the share-backed tokens covered by the SEC’s later exemption. Even so, the AMC dispute highlighted a basic issue for listed companies: outside platforms could use their stock names with little direct control from the issuers themselves.

What the SEC exemption changes

That changed on September 17, when the SEC’s Innovation Exemption created a path for qualifying platforms to trade tokenized US equities. The framework does not give companies a blanket veto over tokenization in general. Instead, it lets them object venue by venue.

SEC Chair Paul Atkins said the approach would help bring US capital markets into the digital age. At the same time, the mechanism gives issuers a formal process to stop a particular marketplace from launching tokenized versions of their shares if they act within the deadline.

What it means for investors and the market

For shareholders in companies such as JPMorgan and Coca-Cola, the article says there is no immediate change. Their stocks continue to trade on conventional exchanges, and the objections do not by themselves change the value of those shares.

The larger concern raised in the report is how pricing might work if stock trading expands into separate 24-hour tokenized venues. Nasdaq has warned that these markets could display prices that differ from traditional exchanges. OKXICE’s own notice also says it operates outside Regulation NMS, the US framework designed to help investors compare prices across stock markets.

The next question for OKXICE

With nearly half of its initial lineup facing objections, OKXICE now faces a practical test. The platform was introduced with 62 companies on its original roster, but a substantial portion have moved to opt out under the SEC’s process.

The immediate next step is straightforward: companies that do not object within the allowed period remain absent from the filing, while those that do can block OKXICE specifically. For now, several high-profile names, including Apple, Nvidia, Tesla and Amazon, have not appeared on the objection list.

Source: beincrypto.com