365Crypto
The SEC finally gave the DTCC a rare no-action letter, letting the giant behind most US securities trades pilot a system that turns stocks, ETFs, and Treasurys into blockchain tokens. The move signals a major shift as traditional markets prepare to plug directly into onchain rails.
The plan begins with highly liquid assets such as the Russell 1000 index and major ETF products. The DTCC expects the pilot to go live in late 2026, allowing approved firms to interact with tokenized versions of assets they already trade every day.
Leaders at the DTCC claim that tokenization can increase collateral mobility and open the door to nonstop markets. They say the digital twins of these assets will carry the same rights and protections, minus the paperwork that slows down legacy systems.
SEC Chair Paul Atkins has openly pushed for tokenization, calling it the future of settlement. He’s even floating the idea of an “innovation exemption” to cut through old rules that slow onchain development. Analysts are praising the move, noting that tokenized markets are forming much faster than many expected.
Technical notes:
Tokenization = converting real assets into digital blockchain tokens.
No-action letter = SEC promise not to pursue enforcement if rules are followed.
