US Stock Market Move | The news that the SEC is considering allowing the tokenization of Robinhood's stock (HOOD.US) caused it to surge over 8%.

On Wednesday, Robinhood (HOOD.US) soared over 8% in early trading, rising 50% since its low in April and now trading at $105.38. On the news front, it was reported that the U.S. Securities and Exchange Commission (SEC) is considering a proposed innovative exemption measure to allow "tokenized stocks," which could lead to a major shift in the U.S. stock market. The report indicated that this policy would allow cryptocurrency companies to offer traditional stock versions based on blockchain, enabling trading 24/7 and almost real-time settlement. The move is expected to be spearheaded by SEC Chairman Paul Atkins, with the aim of providing regulatory flexibility for companies to experiment with digital asset models. Following the continuous growth of overseas operations, cryptocurrency exchanges such as Coinbase (COIN.US), Robinhood, and Kraken are preparing to potentially launch related services in the United States.