A joint venture between cryptocurrency exchange OKX and Intercontinental Exchange, parent of the New York Stock Exchange, continues to face widespread resistance from major U.S. companies over plans to offer blockchain-based trading in versions of their shares.
Amazon, Tesla and SpaceX have added their names to the list of objectors, according to the venture’s updated public notice dated November 2.
Netflix, SoFi Technologies and Lam Research appeared alongside them in the same filing, bringing the total number of disclosed objections to 56, up from 50 listed in the prior October 30 notice.
OKXICE LLC, a Texas-based entity, is owned equally by Intercontinental Exchange Holdings and OKC USA Holding.
The planned Tokenized Securities Venue intends to support secondary trading of tokenized U.S. equities paired with payment stablecoins through permissioned automated market maker pools.
The design does not use a conventional central limit order book and indicates that the venue itself will not hold customer assets.
Operation would occur under the Securities and Exchange Commission’s (SEC) Innovation Exemption issued in September, which permits certain distributed-ledger venues to facilitate trading in tokenized National Market System stocks without full exchange registration.
Under the exemption’s conditions, a venue must provide an issuer with written notice before offering a version of its stock created by an unaffiliated third party.
The issuer then has 30 calendar days from receipt of that notice to submit a written objection; a timely objection bars the venue from making the third-party tokenized stock available for trading. Issuers retain the ability to tokenize and list their own shares on the venue if they choose.
The venture initially identified shares from 62 companies for potential trading.
Reporting indicates that roughly 49 of those original selections have now objected, representing about 79 percent of the initial group, with seven additional objectors falling outside that roster.
Thirteen companies from the original selection still show no public objection as of the November 2 notice, including Apple, Strategy, Robinhood, Coinbase, Super Micro Computer, Palantir, Circle, ServiceNow, GE Vernova, Boeing, Home Depot, Securitize and BitGo.
For companies that received notice around the October 4 initial filing, the 30-day response period would conclude on November 3, although individual clocks begin only upon each issuer’s receipt of notice.
Venues have up to five business days after receiving an objection to publish an updated notice, so further additions remain possible after the formal window closes.
SpaceX’s objection is notable given prior offshore activity in tokenized representations of its shares.
Following the company’s public listing in June, platforms including Backpack Securities and Kraken’s xStocks product facilitated substantial on-chain volume outside the United States.
Backpack’s SPCX token alone generated approximately $1.08 billion in trading volume during June, while Kraken’s corresponding instrument recorded roughly $852 million.
Unlike those offshore offerings, the OKXICE venue would operate under the new U.S. regulatory pathway and potentially open access to domestic investors.
SpaceX’s written objection means third-party tokenized versions cannot trade on this specific venue, even as activity continues on other platforms.
The accelerating series of objections spans technology, retail, financial services, healthcare and industrial sectors. Earlier waves included companies such as Microsoft, Alphabet, Nvidia, JPMorgan Chase, Goldman Sachs, Walmart and Nike.
The notices do not disclose the specific reasons behind individual objections.
The pattern illustrates issuer caution toward third-party tokenization arrangements under the exemption framework.
While the exemption aims to support digital market infrastructure development, the high rate of opt-outs narrows the near-term scope of the OKXICE venue relative to its initial selection. Subsequent notices will determine which equities, if any, proceed under the current structure.
