Hyperliquid Is Building a Shadow Stock Exchange. The SEC Might Soon Make It Legal.

Hyperliquid Is Building a Shadow Stock Exchange. The SEC Might Soon Make It Legal.

Key PointsThe Securities and Exchange Commission is unexpectedly changing the rules affecting tokenized stocks and other tokenized assets.Those changes are not guaranteed to be permanent.As of now, they appear to clear the way for Hyperliquid to compete in the U.S.10 stocks we like better than Hyperliquid › Hyperliquid (CRYPTO: HYPE), a decentralized crypto exchange that operates 24/7, clears its own trades, and doesn't require a brokerage accou…

SEC in Washington pushes innovation exemption that triggers fierce debate over tokenized stock market fragmentation across United States financial exchanges

[»] Jump to Summary… The U.S. move toward allowing third-party platforms to list tokenized versions of traditional equities is being seen as a major shift in how stock trading could evolve. But according to research from Tiger Research, the policy may come with unintended consequences that go beyond simple innovation. At the center of the discussion is the U.S. Securities and Exchange Commission’s (U.S. Securities and Exchange Commission) recent…

Tokenized Stocks Face Liquidity Risks, Revenue Fragmentation: Study

The SEC’s move to permit third-party listings of tokenized stocks could reshape on-chain market structure, raising questions about liquidity concentration and where revenue accrues as markets fragment across multiple blockchain networks. While proponents see practical benefits, researchers warn that fragmentation could pose real risks to price discovery and market efficiency. According to Tiger Research director and head of research, Ryan Yoon, …

SEC tokenized stock plan raises exchange revenue fears

Tokenized stocks could split liquidity and exchange revenue as SEC weighs a new exemption, Tiger Research says, with RWA demand rising fast.

CoinStats - Tokenized stocks risk liquidity and revenue f...

TradFi views the breakup of its previously consolidated, centralized liquidity as a “serious structural threat,” said Tiger Research director Ryan Yoon. The US Securities and Exchange Commission’s move to allow third parties to list tokenized stocks could risk two structural disruptions with liquidity and revenue fragmentation, according to Tiger Research.Liquidity fragmentation may occur as capital disperses from centralized exchanges across mu…