Twelve more companies—including Nvidia, Costco, and Nike—have formally objected to having their shares traded on OKXICE TSV, according to the venue's Oct. 30 notice, the largest single batch of objections yet.

The chipmaker heads a list of 12 new objecting issuers named in an updated notice from OKXICE TSV dated Friday. The others are Costco, Nike, Micron, CrowdStrike, Palo Alto Networks, Reddit, Hewlett Packard Enterprise, Corning, Bloom Energy, IREN, and USA Rare Earth. The additions bring the total number of objecting companies to 50.

The pace of objections has accelerated sharply since the list first appeared. It stood at nine when the initial objectors were published on Oct. 15 and at 38 in the venue's Oct. 28 notice, when Walmart and Eli Lilly joined. It has more than quintupled since then.

The newcomers span chips, cybersecurity, retail, and energy. Nvidia, Micron, and Corning join hardware peers such as AMD, Intel, and Broadcom, while CrowdStrike and Palo Alto Networks add two cybersecurity heavyweights to the list. IREN, a Bitcoin miner that has expanded into AI cloud computing, contributes a name from the crypto industry itself. Taken together, the objections now reach across tech, finance, retail, health care, and energy.

The mechanism behind the objections is the SEC's innovation exemption, which the agency unveiled in September after the Clarity Act, a crypto market-structure bill, stalled in the Senate. Under the framework, 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, which granted temporary conditional exemptive relief under Section 36(a)(1) of the Securities Exchange Act. A timely objection therefore bars the venue from listing a third-party tokenized version of a company's shares. The objection applies only to that venue.

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 U.S. stocks around the clock. Trades would run through permissioned Uniswap v4 pools on OKX's XLayer blockchain, paired with stablecoins such as USDC. The objections cut directly into that plan: under the exemption's rules, shares of the 50 objecting companies cannot be made available on the venue, meaning every additional notice trims another set of tickers from what the around-the-clock market can offer.

None of the objecting companies has explained its decision, but Nasdaq offered one possible rationale when it opted its own shares out of the exemption. A spokesperson told The Wall Street Journal that Nasdaq does not want its stock trading on a venue that does not display the best prices in real time or report trades to the consolidated tape.

Nasdaq may also be encouraging other companies to opt out of the OKX-ICE venture, according to a report by Crypto in America. "Our Nasdaq rep had reached out to us regarding OKX listing, suggesting we should object and that they would hold a call to discuss why," an executive at a Nasdaq-listed company told the publication. "Nasdaq is definitely partly behind this," the executive reportedly said.

OKXICE's notice acknowledges that the venue is not subject to Regulation NMS, the rules designed to ensure investors receive the best displayed prices. It also warns that broker-dealers face unsettled questions around trade reporting and best execution on the platform. Those disclosures mirror the concerns Nasdaq cited when it opted its own shares out of the exemption.

Despite the fast-growing list, some of the market's biggest names—including Apple, Tesla, and Amazon—have yet to appear among the objectors. Because notified issuers have 30 days to file written objections, subsequent notices could extend the roster, and whether any of those major names ultimately appears on it is one of the details to watch as further notices are published.