NYSE Proposes Rule Change To Enable Tokenized Stocks and ETFs Under DTC Pilot

On May 04, 2026, the New York Stock Exchange submitted a proposed rule change to the SEC seeking approval for tokenized versions of eligible stocks and exchange-traded funds to trade under a three-year Depository Trust Company pilot program.

Tokenized securities would need to match their traditional counterparts in key respects, including CUSIP, ticker symbol, rights, and privileges, while trading on the same order book and following standard execution priority rules. Clearing and settlement would continue through DTC on a T+1 basis. The proposal creates Rule 7.50 and positions tokenized securities within the existing national market system rather than creating a separate blockchain venue.