ONDO, the native token of Ondo Finance, surged 16% to $0.39 after reports that the SEC is preparing a framework for tokenized stocks. The framework would allow digital versions of securities to trade on decentralized platforms, potentially reshaping US market infrastructure. Ondo Global Markets, already the largest tokenized equity issuer with $1B in TVL and $18B cumulative volume, appears the primary beneficiary. Managing Director Katie Wheeler projected TVL could hit $5B by year-end.
The Kobeissi Letter called the potential exemption a 'surprise move' that could be 'one of the biggest shifts into crypto infrastructure yet.' However, questions remain over shareholder protections, as the tokens may not include voting rights or dividends.