NYSE and OKX launch 24 7 tokenized stocks

OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange, plan to begin offering 24/7 trading in tokenized stocks and exchange-traded funds to eligible U.S. users on Nov. 23, a move that would place blockchain-based versions of familiar securities into a more regulated market structure.

OKX said the planned venue would list more than 70 assets, including 59 ETFs and tokenized shares linked to Coinbase, Circle, BitGo, Robinhood and Strategy. Strategy preferred stock is also expected to be available. The service is set to operate under a temporary innovation exemption from the U.S. Securities and Exchange Commission.

The proposed platform would connect a crypto-native trading model — continuous trading and tokenized settlement — with the market infrastructure of ICE and the NYSE. Its arrival would test whether demand for tokenized securities extends beyond pilot programs and small offshore platforms, particularly among U.S. users who want longer trading hours without leaving regulated financial venues.

Tokenized listings face issuer resistance

The planned launch comes despite resistance from a group of companies whose securities were expected to be included in tokenized trading initiatives. According to the material provided, 67 companies had previously opposed having their shares listed on the venue, including JPMorgan Chase, McDonald's, SpaceX and Coca-Cola.

That opposition points to an unresolved issue in the tokenization market: a token representing a stock must preserve the rights, disclosures and corporate actions attached to the underlying security. Companies have been cautious about trading models that could create confusion over voting rights, dividend treatment, ownership records or the relationship between a token and the actual share.

A separate report said the NYSE has selected Avalanche as the core ledger technology for a planned tokenized-securities platform. The proposed system would support round-the-clock trading, clearing and settlement, though it still requires regulatory approval. Avalanche has been used for networks that can create customized blockchain environments, an approach that could allow a securities venue to set its own participant, compliance and settlement rules.

The overlap between the OKX-ICE plan and the NYSE's reported Avalanche project suggests that tokenized markets are moving closer to the core functions of established exchanges: matching orders, recording ownership, clearing trades and settling transactions. The operational challenge will be whether these systems can deliver quicker settlement while meeting the reporting and market-surveillance standards expected of U.S. securities infrastructure.

Coinbase receives federal trust-bank approval

Coinbase has also received final approval from the Office of the Comptroller of the Currency to operate as a federally chartered national trust bank, according to the supplied information. The approval is limited to institutional digital-asset custody.

The charter does not permit Coinbase's federally chartered entity to accept retail deposits, make conventional loans or issue stablecoins. Coinbase plans to move its existing custody operation to the federal entity over the next three years.

A national trust-bank charter gives a custody provider a more direct federal supervisory framework, though its narrow scope means it does not turn Coinbase into a full-service commercial bank. The structure could appeal to institutions that want digital-asset custody under a federally chartered entity while keeping trading, lending and consumer-facing products separate.

The decision arrives as U.S. lawmakers continue to debate digital-asset market structure. In Washington, the Senate voted 49–50 to block an effort to advance the CLARITY Act, according to the report. The measure could return for consideration after the midterm elections, Representative Tom Emmer has indicated.

Emmer was also elected House Republican minority whip by a 103–76 vote over Texas Representative August Pfluger. The leadership position gives Emmer a role in coordinating votes and shaping the Republican caucus's legislative priorities, including potential cryptocurrency bills.

Bitcoin ETF withdrawals extend to four sessions

U.S.-listed spot Bitcoin ETFs recorded net outflows of $95.0012 million on Nov. 10, extending their withdrawal streak to four consecutive trading days, according to SoSoValue. BlackRock's IBIT recorded the day's largest net outflow, at $78.2362 million.

IBIT's cumulative historical net inflow remained $64.810 billion, according to SoSoValue, underscoring the difference between several days of redemptions and the category's longer-term capital base. The 11 spot Bitcoin ETFs held a combined $92.824 billion in net assets, while cumulative historical inflows stood at $55.403 billion.

MSBT posted the largest single-day inflow, adding $20.0251 million and bringing its historical net inflow to $825 million, SoSoValue said. The split in daily flows shows that withdrawals were concentrated rather than universal across all issuers.

Macro expectations have also become less favorable for risk-sensitive markets. The supplied report said three consecutive inflation readings above forecasts strengthened expectations for a Federal Reserve rate increase at the Dec. 8–9 meeting. Market discussion has centered on whether policymakers would opt for a 25-basis-point increase, a one-time 50-basis-point move, or signal a series of smaller increases.

Higher policy rates typically raise the cost of leverage and can pressure assets whose valuations depend heavily on future growth expectations. For crypto markets, the immediate effect often appears through liquidity conditions, ETF flows and derivatives positioning rather than a single predictable price response.

Wallet practices remain a Bitcoin security concern

Glassnode estimated that about 35.4% of Bitcoin's supply, or roughly 7.12 million BTC, sits in addresses with publicly exposed keys that could be vulnerable to future quantum-computing attacks. The blockchain analytics firm said 25.8% of the potential exposure is tied to address reuse, while exchanges account for 11.6%.

The exposed share has increased from 24.8% in early 2021, Glassnode said. Bitcoin's current cryptography is not considered practically breakable by existing quantum computers, but the figures show how old wallet practices could become a larger issue if quantum capabilities advance. Moving funds from reused or exposed-key addresses to newly generated addresses can remove this particular exposure.

Mining company MARA has already been using its Bitcoin reserves more actively. According to its filings, MARA sold 13,597 BTC for about $1.1 billion since late September of the previous year, equal to roughly 40% of the approximately 34,000 BTC it held at that point.

MARA's quarterly revenue fell 35% to $164.2 million, while the average price of Bitcoin it mined declined 37% to $71,700, according to the company. It said $750 million of sale proceeds repaid Bitcoin-collateralized loans from Coinbase Credit and Two Prime, releasing 17,477 BTC in pledged collateral. MARA also said it intends to continue selling Bitcoin to support AI data-center development.

Russia is preparing its own framework for organized crypto trading. The Bank of Russia said crypto trading could begin on Russian exchanges from Nov. 22, 2026, once rules are agreed with regulators. The framework requires exchanges to record orders and trades, monitor activity, calculate reference prices and report trading data to the central bank under standards used for other asset classes.