Coinbase Seeks SEC Nod for Tokenized Equities

Coinbase has filed for regulatory approval from the U.S. Securities and Exchange Commission (SEC) to offer tokenized equities, aiming to let customers trade digital versions of traditional stocks on its platform. This move would enable 24/7 trading and potentially reduce costs but faces significant regulatory challenges, as such products are not currently permitted in the U.S. Rival exchanges like Kraken have launched similar offerings overseas, while Robinhood is advocating for a federal framework for tokenized assets. In a related development, CoinShares and at least seven other asset managers have submitted or updated applications for Solana-based exchange-traded funds (ETFs), some of which include staking features to enhance approval prospects. The SEC has yet to approve any Solana ETFs but is reportedly open to ongoing discussions, with analysts expecting possible approvals later in the year. These initiatives reflect major financial players' efforts to expand blockchain adoption and push for greater regulatory clarity in both cryptocurrency and traditional finance sectors.