Seven more major U.S. companies have formally objected to having their stock traded in tokenized form on OKXICE TSV, the 24/7 equities venue being developed by OKX and Intercontinental Exchange, pushing the total number of objecting issuers to 33.

JPMorgan Chase, the largest bank in the United States, joins Coca-Cola and Dell Technologies among the seven companies added to the venue's list of objecting issuers in a notice dated Tuesday, Oct. 27. Advanced Micro Devices, Adobe, Applied Materials, and Sandisk round out the group, lifting the total from 26 a day earlier, according to the venue's official notice.

The tally of objectors has climbed steadily over roughly two weeks. It stood at nine on Oct. 15, rose to 16 on Oct. 19, and reached 22 by Oct. 23. Earlier objectors include Microsoft, Alphabet, Goldman Sachs, Wells Fargo, Intel, and Oracle. JPMorgan is the third major U.S. bank to object, after Goldman Sachs and Wells Fargo. The steady climb means a growing group of major issuers is opting out before the venue has even launched, with each objection removing a stock from what OKXICE can make available on its platform.

Under the SEC's innovation exemption, which the agency unveiled in September after the Clarity Act stalled in the Senate, a venue must notify a company before offering a version of its shares tokenized by an unaffiliated third party. If the company objects in writing within 30 days, the venue cannot make that stock available for trading, according to the SEC's order. The objection applies only to that specific venue; other trading platforms are not affected. The notices have not disclosed the companies' reasons for objecting. For a venue whose premise is round-the-clock access to U.S. equities, the opt-out process has become an early, visible gauge of how major issuers are responding to tokenized versions of their shares.

OKXICE's original Oct. 4 notice proposed 63 tokenized stocks from 62 different companies, and several objectors, including Wells Fargo and Arm, were not on that initial roster. Some of the biggest names in American business, including Nvidia, Tesla, Apple, and Amazon, have not objected so far, keeping those names off the opt-out tally for now.

OKXICE TSV, a 50-50 joint venture between NYSE owner Intercontinental Exchange and OKX's U.S. holding company, plans to let approved users trade tokenized versions of U.S. stocks 24 hours a day, seven days a week. Trades would run through permissioned Uniswap v4 pools on OKX's XLayer blockchain, paired with stablecoins such as USDC.

Earlier notices from the venture cautioned that it remains uncertain whether tokenized shares held in self-custodied wallets would be covered by the Securities Investor Protection Corporation if the tokenizer's broker-dealer were to fail.

OKX and ICE first teamed up on tokenized securities earlier this year before announcing the 24/7 venue this month. Nasdaq, which won SEC approval for its own tokenized securities pilot, has said it will opt its shares out of the exemption. Subsequent updates to the venue's notice will show how much of the originally proposed 63-stock lineup survives the opt-out process.