Nike Objects to Tokenized Trading as Companies Push Back on OKX-ICE Venue

Nike has formally objected to the tokenized trading of its shares on a new platform operated jointly by cryptocurrency exchange OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange. The company's decision blocks its equity from being converted into digital stock tokens on that specific venue.

The footwear and apparel corporation is part of a broader wave of pushback from major public companies regarding emerging digital asset markets. According to updated public notices, 50 companies have now lodged objections against the OKX-ICE tokenized stock plans, representing roughly 69 percent of the 62 firms initially selected for trading on the platform.

Other prominent corporations joining Nike in expressing their opposition include Nvidia, Costco, and Micron Technology. Meanwhile, firms such as Apple, Amazon, and Tesla have not disclosed any objections as the response window nears its conclusion under the Securities and Exchange Commission's five-year Innovation Exemption framework.

The regulatory exemption allows companies to block their shares from trading on such blockchain-based platforms when tokenization is arranged by an unaffiliated third party. Supporters of the venue argue that tokenized equities offer round-the-clock trading and faster settlement times, but issuers remain cautious about trading outside traditional exchange structures.

OKX-ICE co-chairman Andrew Cuomo noted during a press briefing that initial reluctance was anticipated as market participants evaluate the new structure. He expressed optimism that corporate participation would increase as understanding of tokenization benefits grows, even as issuers emphasize tighter control over their securities.

In separate news, Nike is collaborating with Union LA for an upcoming footwear and apparel collection titled "Natural Selection." Set to release at the end of October and into November, the collection features deconstructed low-top Dunk Low sneakers in three monochromatic colorways with a retail price of $130 each, alongside co-branded apparel items.