SEC tokenized stock plan puts investor rights ahead of trading speed
The SEC has opened a five-year pathway for tokenized U.S. stocks that requires each approved token to carry the economic, voting, dividend, and liquidation rights attached to the underlying share. SummaryTokenized NMS stocks must provide the same rights as their traditional share equivalents.Synthetic products that offer only price exposure fall outside the SEC exemption.Bitget Wallet COO Alvin Kan said legal ownership matters more than 24-hour trading.The exemption carries symbol and volume limits and remains open to SEC modification.Institutions can run pilots, but the temporary order does not provide lasting legal certainty. Bitget Wallet COO Alvin Kan told crypto.news that the legal rights attached to a stock token will matter more to investors than its trading hours, settlement speed, or country of issuance. “A token that tracks a stock price is not the same thing as owning the stock. Putting both on a blockchain doesnt erase that difference,” Kan said. Under the SEC exemption, a tokenized National Market System stock must grant its holder the same rights and privileges as the matching traditional share. Kan said those protections include an economic interest in the company, dividends, voting power and rights during liquidation. Synthetic exposure does not qualify under the exemption. An issuer can also object if








