Nasdaq Inc (NASDAQ:NDAQ) plans to introduce tokenized versions of stocks and ETFs by early 2027 through a partnership with Kraken, signaling growing institutional adoption of blockchain infrastructure.

Tokenized Shares Alongside Traditional Equities

Nasdaq announced a partnership with crypto exchange Kraken to develop a framework for trading tokenized stocks and exchange-traded products, the Wall Street Journal reported on Monday.

Under the proposal, each token would represent one-to-one ownership of an underlying share, giving holders the same governance rights as traditional investors, including voting and dividend payments.

Kraken would act as a distribution partner, offering tokenized stocks to clients in Europe and other international markets,

The initiative builds on Nasdaq's earlier proposal to the U.S. Securities and Exchange Commission to allow tokenized shares of listed companies, potentially including firms such as Nvidia (NASDAQ:NVDA) and Tesla (NASDAQ:TSLA), to trade alongside conventional equities on its exchange.

Both the tokenized and traditional shares would share the same CUSIP identifier and settle through existing market infrastructure, ensuring they remain interchangeable.

Wall Street Pushes Into Tokenization

Major financial institutions including BlackRock (NASDAQ:BLK), JPMorgan Chase (NASDAQ:JPM), and Goldman Sachs (NASDAQ:GS) have also expanded tokenized asset initiatives, reflecting broader institutional interest in blockchain-based financial markets.

Tokenization could enable 24/7 trading, faster settlement and automated corporate actions while reducing reliance on legacy financial infrastructure.

In January 2026, Nasdaq also deepened its partnership with CME Group to relaunch the Nasdaq Crypto Index as the Nasdaq CME Crypto Index.

Originally introduced in 2021, the index was designed on the premise that cryptocurrencies may increasingly become a modest but meaningful allocation within diversified investment portfolios.

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