Nvidia, Costco and Nike have added their names to the list of companies opposing OKX and ICE's plans to offer tokenized versions of their shares. The three join a growing group of firms pushing back against the initiative, with nearly 70% of the companies initially selected for tokenized stock trading having now opted out.
The 30-day response window for companies to object is nearing its end, leaving just a fraction of the original roster still potentially participating.
Which companies are staying quiet
Not every firm has raised an objection. Nineteen companies, including Apple, Tesla and Amazon, have no disclosed objection to the plans, according to the information available. That silence doesn't necessarily mean endorsement, but it does leave the door open for their shares to be included if the plans move forward.
The split reflects a broader hesitation among major corporations about having their equity wrapped into blockchain-based tokens without their explicit consent. For OKX and ICE, the dwindling list of participating companies narrows the pool of assets they can offer.
What the opt-outs mean for the rollout
With nearly 70% of the initially selected companies walking away, the tokenized stock product is shaping up to be far smaller than first envisioned. The companies that have opted out haven't given public reasons, but their decisions come as regulators and market participants continue to scrutinize how tokenized equities would work in practice.
OKX and ICE haven't said whether they'll proceed with the remaining companies or adjust their plans. The 30-day window was meant to give firms a chance to respond; what happens after it closes isn't clear.
The regulatory backdrop
Tokenized stocks sit in a gray area. They promise the trading flexibility of crypto with exposure to traditional equities, but they raise questions about shareholder rights, disclosure and whether the tokens actually represent ownership. Companies that opt out may be wary of those unresolved issues, or simply unwilling to let a third party tokenize their shares without more control.
For now, the firms that have objected — Nvidia, Costco and Nike among them — have made their position clear by opting out. The ones that haven't may soon face the same deadline.
What's left to watch
The 30-day response period is almost over. After it ends, OKX and ICE will have to decide whether to move ahead with the 19 companies that haven't objected, or rethink the product entirely. Neither firm has commented on the opt-outs or outlined next steps. For the companies still on the fence, the clock is running down.
