Blab Crypto
Wall Streets Shift: Major U.S. Firms Announce Plans to Offer Crypto and Tokenized Equity
On Tuesday, two Wall Street titans took the stage at an Axios Live event in Washington, D.C., and announced that the once‑cautious world of traditional finance is gearing up to embrace digital assets. Nasdaq Chief Financial Officer Sarah Youngwood and Kraken co‑CEO David Ripley discussed the growing demand from retail, institutional and high‑net‑worth clients.
Ripley told Axios that nearly all traditional financial services companies will soon offer Bitcoin, Ethereum and other cryptocurrencies to their customers. He described the move as a "big story of 2026" and said banks and brokerages are responding to a clear appetite for digital assets. The co‑CEO added that the rise of stablecoins shows investors are willing to own blockchain‑based versions of traditional assets, and that publicly traded stocks will be the next target.
"It’s not going to end there… The next most significant place where we see tokenized equity or tokenized assets will be public equities," Ripley said. He explained that Kraken plans to allow retail investors to purchase tokenized shares of initial public offerings (IPOs), a move that could broaden access to companies that have traditionally been locked out until later in their growth cycles.
Youngwood echoed the sentiment that the U.S. market is ready for a wave of large‑scale IPOs. She said the Nasdaq system is deep enough to absorb a "trillion‑dollar" influx of new listings, even as companies such as SpaceX, OpenAI and Anthropic prepare to go public. The CFO noted that the exchange is prepared for both the very small AI‑driven firms and the larger, more established companies that may emerge from that ecosystem.
SpaceX, which filed its S‑1 registration statement in May, is expected to debut on Nasdaq later this week. The company aims to raise about $75 billion, valuing it at roughly $1.7 trillion, which would make it the largest IPO ever. The filing also reserved 30 % of shares for retail investors, a detail that aligns with the tokenization strategy discussed by Ripley.
The conversation also touched on the broader trend of extended‑hours trading. Nasdaq is pursuing 24‑hour trading windows, a feature that would bring the exchange’s hours closer to the 24/7 nature of cryptocurrency markets. This alignment is part of a larger push to make investing more accessible to average Americans, with more assets available to trade and fewer limits on when they can trade them.
Tokenization is a key component of the shift. Kraken’s announcement of tokenized IPO shares for retail investors is the first step toward a broader ecosystem where traditional securities can be represented on a blockchain. The move is expected to increase liquidity and reduce the friction that has historically limited retail participation in early‑stage public offerings.
The convergence of artificial intelligence, stablecoins, tokenization and extended‑hours trading is creating a new environment in which digital assets are becoming a standard part of the investment landscape. The statements from Nasdaq and Kraken signal that the industry is moving from a defensive posture to an active engagement with crypto and blockchain technology.
In summary, the day’s announcements illustrate a turning point: major U.S. financial institutions are preparing to offer cryptocurrencies and tokenized equities to a broad base of investors. The upcoming SpaceX IPO, the expansion of tokenized shares, and the push for 24‑hour trading all point to a future where digital assets are integrated into mainstream financial markets.
The next steps will involve the implementation of the tokenization platform, the finalization of SpaceX’s listing, and the rollout of extended‑hours trading on Nasdaq. Investors and market participants will watch closely as these developments unfold, noting how they shape the evolving relationship between traditional finance and the blockchain ecosystem.
Ripley told Axios that nearly all traditional financial services companies will soon offer Bitcoin, Ethereum and other cryptocurrencies to their customers. He described the move as a "big story of 2026" and said banks and brokerages are responding to a clear appetite for digital assets. The co‑CEO added that the rise of stablecoins shows investors are willing to own blockchain‑based versions of traditional assets, and that publicly traded stocks will be the next target.
"It’s not going to end there… The next most significant place where we see tokenized equity or tokenized assets will be public equities," Ripley said. He explained that Kraken plans to allow retail investors to purchase tokenized shares of initial public offerings (IPOs), a move that could broaden access to companies that have traditionally been locked out until later in their growth cycles.
Youngwood echoed the sentiment that the U.S. market is ready for a wave of large‑scale IPOs. She said the Nasdaq system is deep enough to absorb a "trillion‑dollar" influx of new listings, even as companies such as SpaceX, OpenAI and Anthropic prepare to go public. The CFO noted that the exchange is prepared for both the very small AI‑driven firms and the larger, more established companies that may emerge from that ecosystem.
SpaceX, which filed its S‑1 registration statement in May, is expected to debut on Nasdaq later this week. The company aims to raise about $75 billion, valuing it at roughly $1.7 trillion, which would make it the largest IPO ever. The filing also reserved 30 % of shares for retail investors, a detail that aligns with the tokenization strategy discussed by Ripley.
The conversation also touched on the broader trend of extended‑hours trading. Nasdaq is pursuing 24‑hour trading windows, a feature that would bring the exchange’s hours closer to the 24/7 nature of cryptocurrency markets. This alignment is part of a larger push to make investing more accessible to average Americans, with more assets available to trade and fewer limits on when they can trade them.
Tokenization is a key component of the shift. Kraken’s announcement of tokenized IPO shares for retail investors is the first step toward a broader ecosystem where traditional securities can be represented on a blockchain. The move is expected to increase liquidity and reduce the friction that has historically limited retail participation in early‑stage public offerings.
The convergence of artificial intelligence, stablecoins, tokenization and extended‑hours trading is creating a new environment in which digital assets are becoming a standard part of the investment landscape. The statements from Nasdaq and Kraken signal that the industry is moving from a defensive posture to an active engagement with crypto and blockchain technology.
In summary, the day’s announcements illustrate a turning point: major U.S. financial institutions are preparing to offer cryptocurrencies and tokenized equities to a broad base of investors. The upcoming SpaceX IPO, the expansion of tokenized shares, and the push for 24‑hour trading all point to a future where digital assets are integrated into mainstream financial markets.
The next steps will involve the implementation of the tokenization platform, the finalization of SpaceX’s listing, and the rollout of extended‑hours trading on Nasdaq. Investors and market participants will watch closely as these developments unfold, noting how they shape the evolving relationship between traditional finance and the blockchain ecosystem.
