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Tokenization stocks fall after SEC delays key innovation exemption
Uniswap slid about 7% and the SEC also canceled a meeting on proposed crypto offering rules, adding to uncertainty for tokenized securities trading on DeFi venues.
Shares of tokenization-focused firms fell Friday after the SEC delayed its planned “innovation exemption” for tokenized securities and canceled a meeting tied to proposed crypto offering rules, according to CoinDesk.
Among the decliners, Bullish (BLSH) fell about 8% in early trading, after reversing gains following its second-quarter earnings report. Figure (FIGR) dropped about 9% from Thursday’s session high, while Coinbase (COIN) declined 2% as it continues work on its tokenized-stock offering and has selected Abu Dhabi as an offshore hub.
Uniswap (UNI) dropped 7% and stablecoin issuer Circle (CRCL) fell nearly 4%. Circle’s USYC tokenized Treasury product holds roughly $3 billion of assets, CoinDesk noted, and Securitize (SECZ) swung lower by about 5% earlier before stabilizing after a 27% drop on Thursday tied to missing earnings estimates.
Clear Street managing director Owen Lau said the regulatory setback is a “speed bump” that may lengthen adoption, but does not derail momentum behind tokenized assets and 24/7 trading infrastructure. CoinDesk reported the SEC delays followed White House and Wall Street concerns about the proposal’s legal footing and potential market impact.