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Apple and Meta Platforms have formally asked that their shares be excluded from the tokenized stock venue planned by OKXICE TSV, a 50-50 joint venture between Intercontinental Exchange, the owner of the New York Stock Exchange, and OKX’s U.S. holding company. The two companies were among 11 added to the objection list in an updated notice dated Thursday, Nov. 5, Decrypt reported.
With Apple and Meta on record, every member of the “Magnificent Seven” group of U.S. technology companies has now opted out. Microsoft, Alphabet, Amazon, Nvidia and Tesla had already objected, leaving Apple as one of the last megacaps absent after the venue’s Nov. 2 notice, when the tally stood at 56.
Also read: Intel, IBM, Oracle, IonQ object to OKXICE tokenized stocks
Key facts
- OKXICE TSV’s objection list grew to 67 companies after the Nov. 5 notice, up from nine when the first objectors appeared on Oct. 15.
- Apple and Meta were joined by Home Depot, Boeing, GE Vernova, Palantir, ServiceNow, S&P Global, KLA, Super Micro Computer and Nebius Group.
- Under the SEC’s innovation exemption, a company that files a written objection within 30 days of being notified can bar a venue from listing a third-party tokenized version of its shares.
- Crypto-friendly public companies Coinbase, Robinhood and Strategy have not appeared on the list, nor have Berkshire Hathaway, Visa or Exxon Mobil.
- The venue plans to offer tokenized U.S. stocks around the clock through permissioned pools on OKX’s XLayer blockchain.
What the exemption allows objectors to do
The SEC issued the innovation exemption in September, after the Clarity Act did not advance in the Senate. The order requires a venue to notify a company before offering a tokenized version of its stock created by an unaffiliated third party. A written objection filed inside the 30-day window prevents the venue from making that stock available for trading.
The relief is narrow in one respect: an objection binds only the venue it was filed against, so a company that blocks one platform is not automatically shielded from others. OKXICE TSV’s structure also differs from holding shares outright — an outside tokenizer is meant to hold real shares one-for-one through a registered broker-dealer, which the objection process does not itself address.
Who stayed off the list
The split between objectors and non-objectors follows no simple industry line. Coinbase, which launched tokenized stocks for non-U.S. users on its Base network in August, has not objected, and neither have Robinhood nor Strategy. Berkshire Hathaway, Visa and Exxon Mobil are likewise absent. The notices do not say whether OKXICE TSV contacted those companies, so it is not clear whether their absence reflects approval or silence.
Meta’s position carries its own history. The company behind Facebook once pursued its own stablecoin, Libra, later renamed Diem, before abandoning the effort in 2022 under regulatory pressure — a record that sits awkwardly beside its objection to a third party tokenizing its shares.
Why it matters
The objections strip the planned venue of the largest U.S. technology names by market value, and those companies account for a substantial share of the S&P 500. Without them, OKXICE TSV would launch with a thinner menu of recognizable stocks than its 24/7 trading pitch implies. The episode also shows how the SEC’s objection window lets incumbent issuers slow tokenized-equity plans without going to court, a lever that companies outside tech can use in the same way.
What to watch
OKXICE TSV’s notices have not listed which tokens it intends to make available, so the next signal is the venue’s launch roster and whether it names any large-cap stocks at all. Further additions to the objector list, or a first crypto-native company filing an objection, would show how far the 30-day mechanism is being used.
Reported by Decrypt.
Source: Decrypt