Battle to Rewire Stock Trading the Bitcoin Crypto Way Is On

The financial landscape is undergoing a seismic shift as firms like Robinhood Markets Inc. and Coinbase Global Inc. advocate for integrating blockchain technology into stock trading. This move aims to enhance efficiency, liquidity, and enable 24/7 trading. However, traditional financial powerhouses, including Citadel Securities, are staunchly opposing this transformation. This clash underscores the tension between established financial systems and emerging technologies.

 

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In June 2025, Robinhood launched tokenized equities for European Union users, allowing commission-free trading of over 200 U.S. stocks and ETFs, including major companies like Nvidia, Apple, and Microsoft. These tokens can be traded 24 hours a day, five days a week, and are issued in partnership with blockchain firm Arbitrum.

 

This initiative aims to tap into the growing global interest in U.S. markets and expand stock token offerings to thousands by the end of 2025. Similarly, in May 2025, Kraken announced plans to introduce tokenized versions of over 50 stocks and ETFs, including major companies such as Apple, Tesla, and Nvidia, enabling non-U.S. customers to trade shares in these high-profile companies via digital tokens.

 

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The concept of tokenized stocks involves creating digital representations of real company shares on blockchain networks, allowing for trading outside traditional exchanges. This approach promises benefits like reduced transaction costs, faster settlements, and continuous trading hours. However, it also raises significant regulatory and operational questions.

 

In July 2025, SEC Commissioner Hester Peirce emphasized that tokenized securities remain subject to federal securities regulations, highlighting the need for compliance within existing legal frameworks. Additionally, the U.S. Senate introduced an amendment to the Responsible Financial Innovation Act of 2025, explicitly classifying tokenized stocks and other securities as securities, ensuring they remain under the jurisdiction of the SEC.