Uniswap Surges as SEC Opens Path for Tokenized Stocks

The price of Uniswap (UNI) surged in response to the Securities and Exchange Commission's (SEC) new framework for tokenized stocks. The UNI price traded near $8.76 after reaching a high of $8.83, with a seven-day gain of around 40%. This increase follows the SEC's September 17 Innovation Exemption for eligible Tokenized Securities Venues.

The exemption permits permissioned automated market makers and liquidity pools to trade tokenized National Market System (NMS) stocks under defined conditions. While Uniswap itself is not directly approved, its v4 Permissioned Pools use allowlists that match the SEC's access model. These pools target regulated assets, including tokenized stocks and funds.

The SEC's framework includes several safeguards to ensure compliance with existing regulations. Tokenized shares must provide the same rights and privileges as equivalent traditional NMS stock, and venues must follow limits on eligible symbols and trading volume. Issuers can also object when unaffiliated third parties tokenize their shares.