4E: Nasdaq submits application for tokenized stocks, Strategy may be ranked among the S&P 500

According to 4E observations, Nasdaq has submitted a proposal to the SEC, intending to revise the rules to allow tokenized securities to be listed on exchanges. The documents show that if tokenized securities are deemed to have the same effect as the underlying securities and have shareholder rights, the same enforcement rules and documentary requirements as traditional securities will apply. Nasdaq emphasized that tokenized assets must be clearly marked with attributes so that the liquidation and settlement processes can be successfully executed, and order priority will be obtained as the same as traditional securities. The market believes that this move may pave the way for tokenized stocks to enter the mainstream market legally and compliantly. At the same time, Strategy has met the technical requirements for entering the S&P 500 index with nearly $70 billion in Bitcoin holdings. The company achieved $14 billion in unrealized revenue last quarter, and market participants are increasingly concerned about the possibility of entering the S&P 500 amid the Trump administration's easing crypto regulations. In terms of capital flow, Ark Invest, a subsidiary of Cathie Wood, increased its holdings of Bitmine Immersion (BMNR) by a total of 101,950 shares through three funds on Wednesday, worth approximately US$4.46 million. Data shows that ARKK increased its holdings by 67,700 shares, ARKW increased its holdings by 21,900 shares, and ARKF increased its holdings by 12,400 shares. In the U.S. Congress, Congressman Joyce submitted the H.R. 5166 Act on September 5, requiring the Treasury Department to formulate a custody and management plan for strategic Bitcoin reserves to establish institutional guarantees for BTC held by the federal government. 4E reminds investors: Tokenized stocks, Bitcoin reserves and institutional increase in holdings all show that traditional financial and crypto markets are deeply integrated, but there are still variables in market expectations and policy implementation, and investors need to maintain rational judgment and flexible response.