Securitize shares slide 38% since it put Apple and Nvidia stock on Solana
By Kyle Pare
AI summary of the source article
Securitize shares dropped 38% following the launch of tokenized versions of 12 U.S. stocks on Solana. The decline coincided with a Citi downgrade and objections from issuers, including Microsoft and Alphabet, under the SEC's Innovation Exemption framework.
Why it matters
That structure matters under the SEC's Innovation Exemption, issued on 17 September. It lets new venues trade tokenised stocks only if they carry the same rights as the underlying shares. Synthetic products are excluded.
Key facts
- Securitize launched Securitize Stocks on Solana, offering 1:1 share-backed tokens for 12 U.S. equities with USDC settlement and Jump Trading as market maker.
- Securitize shares fell 38% from their October 8 launch close to $7.81, alongside a downgrade to neutral by Citi.
- Microsoft and Alphabet are among the companies that have objected to having their shares tokenized under the SEC's framework.
Source excerpt · DL News
Securitize stock is down 38% since it launched tokenised Apple, Nvidia and Tesla shares on Solana. It still hasn't said how much trades.