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ONDO rose roughly 16% after reports that the SEC is preparing a framework that could let tokenized stocks trade via crypto infrastructure. The token changed hands around $0.390, up 15.5% over 24 hours, with about $228 million in daily volume and a market cap near $1.9 billion. The report said the SEC could unveil an “innovation exemption” as soon as this week.

HYPE moved above $48 on May 19, reaching $48.34 and marking a three-month high as trading interest shifted toward stock perpetual futures. Hyperliquid has become a key venue for pricing SpaceX pre-IPO tokens (SPCX), with multiple on-chain and off-chain perps citing valuations above $2.0T. Some market participants also expect tokenized stocks to benefit if US SEC innovation exemptions expand access to on-chain share trading.

The digital asset landscape is exhibiting a fascinating divergence today. While the broader cryptocurrency market enters a phase of macro consolidation, selective sectors are defying gravity. A powerful wave of capital rotation is breathing explosive momentum into specific altcoins, with institutional-grade protocols and consumer-facing networks securing impressive gains over the last 24 hours.

The U.S. Securities and Exchange Commission is reportedly preparing an "innovation exemption" that could allow decentralized platforms to list tokenized versions of public-company shares as soon as this week. The draft approach would test whether equity trading can move onto crypto rails, while requiring platforms to deliver shareholder benefits such as dividends and voting rights to token holders or risk losing authorization.

The US Securities and Exchange Commission is expected to publish an "innovation exemption" designed to open a path for trading tokenized versions of stocks on crypto venues. Bloomberg reported Tuesday that the framework, developed under direction from the Trump administration, could be finalized this week and may allow trading on decentralized platforms. Tokenized stocks remain a small segment of tokenized real-world assets, totaling $1.45 billion, or 4.3% of distributed TVL.

The U.S. Securities and Exchange Commission is expected to publish an “innovation exemption” for tokenized stocks as early as this week. The framework would let traditional market institutions test blockchain-based tokenized securities without completing the full registration process. In recent months, the SEC has also approved related rule changes involving Nasdaq and the New York Stock Exchange, alongside a three-year DTCC authorization for tokenizing certain liquid assets.

Standard Chartered said in a May 18 report it expects tokenized assets on blockchain networks to total USD 4tn by end-2028, which it believes would elevate DeFi protocols into core market infrastructure. The bank expects the total to be split evenly between stablecoins and tokenized real-world assets, with more deposits and lending potentially increasing protocol activity and capital efficiency.

The U.S. SEC is expected to roll out an "innovation exemption" aimed at tokenized stocks, potentially as soon as May 18, 2026. The framework could let crypto-native venues offer tokenized U.S. equities under lighter, time-limited requirements, with guardrails such as disclosure and exposure caps. The move would follow the SEC's approvals for Nasdaq's tokenized-equity rules in March 2026 and a similar NYSE approval in April 2026.

Bernstein analysts said on Friday that Figure Technology Solutions’ May 11 first-quarter earnings report underscores how the company differs from balance sheet-based fintech lenders. The firm beat Wall Street expectations on revenue and EBITDA, and Bernstein argued FIGR could increasingly trade as a proxy for onchain loan volumes as its blockchain-native credit ecosystem scales.

Following the $292 million KelpDAO exploit on April 18, 2026, DeFi activity weakened across major protocols. DeFiLlama data indicates Aave's total value locked fell 44% over 30 days to about $14.77 billion, a roughly $11.605 billion reduction, while 31 of the top 50 protocols posted TVL declines in the same period.