Ethereum Surges, Bitmine Immersion Technologies Leads Charge Higher

Bitmine Immersion Technologies' stock jumped 6% to $27.42 on September 21, following a surge in Ethereum's value after the SEC allowed tokenized versions of US stocks to trade on public blockchains.

The permissioned automated market maker liquidity pools on public blockchains, as described by the SEC's 'Innovation Exemption,' allow regulated platforms to facilitate trading of tokenized representations of real US stocks without registering as traditional exchanges or dealers in certain cases.

The SEC framework requires tokenized stocks to represent actual shares carrying full shareholder rights, including voting and dividends. The order includes public comment periods, which means the framework could evolve before becoming permanent.