Bullish Takes Aim at Wall Street's Tokenized Stock Ownership Gap

What happened

Bullish, Equiniti, Alpaca, Apex Fintech Solutions and Drivewealth formed the Issuer Sponsored Token Coalition because many tokenized stocks are not actual stocks. The group wants onchain shares linked directly to official shareholder registers to preserve voting, dividend and corporate-action rights.

Confirmed

Global impact / market context

Tokenized stocks often give investors exposure without official ownership rights. Linking tokens to company registers would make blockchain shares carry real voting and dividend rights, which means investors could hold digital shares with the same legal benefits as traditional shares.

Analyst inference

Wall Street is testing moving public equities onto blockchains, but many tokenized products are not connected to official registers. This coalition effort could shape how tokenized stocks are structured and which firms control shareholder records as the market develops.

Analyst inference

What to watch

1. Watch whether Bullish, Equiniti, Alpaca, Apex Fintech Solutions and Drivewealth announce specific plans to connect onchain shares to official company shareholder registers. Confirmed
2. The coalition wants tokenized stocks to preserve voting, dividend and corporate-action rights, so watch whether companies and regulators accept this direct-register model. Proposed
3. If the model works, more tokenized stocks could carry real shareholder rights, shifting revenue toward register-linked platforms and changing how investors hold public equities. Analyst inference

Affected assets

• RWA — Xend Finance

Evidence

• news.bitcoin.com