JPMorgan, Adobe, Dell, AMD, Coca-Cola, Applied Materials and Sandisk have joined the group of companies refusing to have their shares tokenized on the joint OKX-ICE platform. The 33 objections now involve more than half of the 62 companies initially selected and represent a combined market capitalization of approximately $17 trillion. These issuers can object under the SEC’s temporary Innovation Exemption, which allows tokenized stocks to trade under certain conditions. The widespread refusal reduces the platform’s appeal, may limit liquidity in its automated market maker pools and signals that major financial companies are not yet prepared to fully embrace tokenized equities carrying rights to the underlying company.
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