24X Exchange Files for Tokenized Russell 1000 Stock Trading

24X National Exchange wants to let traders buy and sell blockchain-based versions of America's biggest stocks alongside traditional shares on one unified order book. The extended-hours exchange filed a proposed rule change with the SEC on June 11, designated SR-24X-2026-20, which the regulator noticed on June 16.

The filing would allow 24X members to trade tokenized versions of DTC-eligible securities. These tokenized shares would sit on a single order book with their traditional counterparts, not in a separate pool. The eligible universe covers Russell 1000 constituents – roughly the thousand largest publicly traded US companies by market cap – plus major index ETFs.

CEO Dmitri Galinov framed the filing as a step toward global equity market access. The move follows Nasdaq's tokenized securities rule change approval in March 2026 and NYSE's in April. Both exchanges already have the green light.

The regulatory foundation came in December 2025, when the SEC issued a no-action letter permitting a pilot program for tokenized securities through the DTC. That pilot is scheduled for production launch in July 2026. The institutional roster includes BlackRock, JPMorgan, and Goldman Sachs. The framework operates within existing securities laws, with tokenized shares holding identical legal standing to traditional ones.

For retail investors, the near-term impact is modest. The longer arc points to compressing the current T+1 settlement cycle, cutting counterparty risk and freeing capital locked during settlement.

The risk is execution. Regulatory approval is not guaranteed. The SEC publishes rule change proposals for public comment, and the review process can stretch months. Technical integration between blockchain settlement systems and existing market infrastructure introduces complexity that has not been tested at scale.