Apple and Meta expressed opposition to OKX-ICE’s tokenised stock trading venue, leaving Wall Street’s “Magnificent Seven” entirely off the platform, blockchain media outlet Decrypt reported on Nov. 7.

OKXICE TSV’s updated notice dated Nov. 5 added 11 companies, including Apple and Meta, as new opponents. That put Apple and Meta alongside Microsoft, Alphabet, Amazon, Nvidia and Tesla. The number of opposing companies increased to 67. Newly added names include Home Depot, Boeing, GE Vernova, Palantir, ServiceNow, S&P Global, KLA, Super Micro Computer and Nebius Group.

The key is an innovation exemption rule the U.S. Securities and Exchange Commission released in September. Under the rule, a trading venue must notify a listed company before offering tokenised shares issued by an unrelated third party. If a company objects in writing within 30 days, the venue cannot add the stock to its trading list. Decrypt noted that such objections “apply only to that trading venue.” It said the effect is not to block other platforms across the board.

OKXICE TSV is a joint venture set up 50-50 by Intercontinental Exchange, the operator of the New York Stock Exchange, and OKX’s U.S. holding company. It is pursuing a plan to allow round-the-clock trading of U.S. stock tokens on OKX’s X Layer blockchain using a permissioned pool method. It also presented a structure in which an external tokenisation operator holds the actual shares one-for-one through a registered broker-dealer.

Even before launch, it faces major constraints in securing key listings. With large technology stocks that account for a big share of the S&P 500 market capitalisation weight dropping out en masse, uncertainty has grown over what major stocks the platform can offer in its early rollout. The notice also did not specify which tokens it plans to list.

Companies not on the opposition list also drew market attention. Crypto-friendly listed firms such as Coinbase, Robinhood and Strategy have not yet been included. Coinbase launched tokenised stocks on its Base network in August for users outside the United States. Berkshire Hathaway, Visa and Exxon Mobil were also not on the latest opposition list. It has not been confirmed whether those companies received notifications.

Meta’s inclusion on the opposition list also stands out. In its Facebook days, Meta pursued its own stablecoin, Libra, later renamed Diem, but shelved the project in 2022 amid regulatory pushback. This time, it has effectively drawn a line against third-party tokenised distribution of its shares.

The number of opposing companies is rising quickly. On Oct. 15, when the first objecting companies appeared, there were 9. The Nov. 2 notice listed 56. With Apple and Meta added, the lineup of major technology stocks has now fully exited. OKXICE TSV’s tokenised stock business has an institutional path open, but whether major listed companies consent will remain a decisive variable for the actual product lineup.