Nasdaq has filed a rule change request with the U.S. Securities and Exchange Commission to allow regulated exchanges to list and trade tokenized stocks — blockchain-based digital representations of real-world shares that can be fractionalized and traded more flexibly.

The move aims to speed settlement, increase liquidity, and broaden access by enabling 24/7 trading and smaller investment sizes, while relying on regulatory oversight to protect investors and preserve market integrity.

If the SEC approves the change, other exchanges could follow, creating a new bridge between traditional finance and digital assets and potentially reshaping how retail and institutional investors access equity markets.