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NYSE Develops Blockchain Platform for Tokenized Stock Trading

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The New York Stock Exchange (NYSE) is developing a new blockchain-based platform that will allow trading of tokenized stocks and exchange-traded funds (ETFs) with 24/7 access and near-instant settlement.

The initiative is part of a broader effort by NYSE and its parent company, Intercontinental Exchange (ICE), to modernize market infrastructure and meet growing global demand for US equities. According to the announcement, the new platform will combine ICE’s existing Pillar trading engine with blockchain-powered post-trade systems.

It will support multiple blockchains for custody and settlement, allowing trades to be funded and settled in real time using stablecoins instead of the current one-day (T+1) settlement cycle used in US equity markets. The platform is subject to regulatory approval and is expected to support a new NYSE trading venue specifically designed for tokenized securities.

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Tokenized stocks are digital representations of traditional company shares issued on a blockchain. They give investors exposure to stock prices while offering key benefits such as 24/7 trading, faster settlement, and fractional ownership. These features are seen as especially attractive to global investors who cannot easily trade during standard US market hours.

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NYSE and ICE Push Toward 24/7, Fully On-Chain Markets

The move aligns with NYSE’s broader push to extend trading hours. In October 2024, the exchange announced plans to seek approval from the US Securities and Exchange Commission (SEC) to extend weekday trading to 22 hours. Nasdaq has also revealed plans to introduce 24-hour weekday trading, highlighting a wider industry shift toward always-on markets.

ICE described the tokenized securities platform as a core part of its digital strategy. This includes building on-chain clearing infrastructure, supporting 24/7 trading, and potentially integrating tokenized collateral. ICE is also working with major banks such as BNY and Citibank to support tokenized deposits, helping market participants manage liquidity outside traditional banking hours.

NYSE Group President Lynn Martin said the exchange aims to lead the industry toward fully on-chain solutions while maintaining strong regulatory standards. ICE executives described the initiative as a pivotal step toward creating onchain infrastructure for trading, settlement, custody, and capital formation in the next era of global finance.

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FG Nexus Offloads $14M in ETH as Corporate Ethereum Treasuries in Pain

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Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions

FG Nexus, a publicly listed Ethereum treasury and infrastructure company, liquidated another chunk of its Ether treasury on Tuesday, offloading 7,550 ETH worth roughly $14 million.

The latest sale adds to a series of disposals that have locked in more than $80 million in losses on a position built near Ether (ETH) 2025 highs. 

Onchain data from Arkham shows that the firm accumulated 50,770 ETH worth around $196 million between August and September 2025 at an average price of $3,860 per coin.

On Oct. 22, the company doubled down on its ETH accumulation strategy, announcing its intention to sell its Quebec property to accumulate more ETH.

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Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions
FG Nexus sells 7,550 ETH. Source: Arkham

As the market turned and the ETH price fell from its October highs of over $4,600 per coin to around $2,700 in November, the company began selling.

FG Nexus has offloaded just over 21,000 ETH for about $55 million, and netted a loss of over $80 million.

The company has also seen its share price for FGNX drop roughly 52% over the past month. 

Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions
FG Nexus share price takes a beating. Source: Google Finance

FG Nexus remains one of the largest publicly traded owners of ETH, with holdings of 37,594 ETH, according to Arkham.

ETH treasury companies under fire

FG Nexus isn’t alone in feeling the pain from an Ether downturn that has left many large corporate treasuries deeply underwater.

Bitmine Immersion Technologies, by far the largest listed ETH holder with 4,422,659 ETH on its books, is sitting on paper losses estimated at around $8.8 billion as Ether trades well below its average acquisition price, even as the company continues to add to its stash

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Related: ETHZilla liquidates $74.5M in Ether to redeem convertible debt

Peter Thiel’s Founders Fund exited its stake in Ethereum treasury firm ETHZilla entirely last week, with ETHZilla’s stock now down about 97% from its all‑time high, as equity markets punish aggressive Ether‑heavy strategies, with other companies actively unwinding.

Trend Research spent February slashing its Ether position on Binance, selling 651,757 ETH for about $1.34 billion on Feb. 8, and locking in an estimated realized loss of around $747 million.

Bitcoin treasury plays feel the heat

The strain on crypto treasury plays is not limited to Ethereum. On Feb. 20, Bitcoin (BTC) treasury company Metaplanet came under fire from shareholders, accusing the company of hiding losses and key details of its Bitcoin bets.

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Despite continued BTC purchases throughout February, on Wednesday, the largest listed owner of BTC, Strategy, became the most-shorted large-cap US stock according to data from Goldman Sachs, as hedge funds turned bearish on Saylor’s highly leveraged, Bitcoin‑centric balance sheet model.

Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder