NYDIG Head of Research: Stock Tokenization Will Not Immediately Bring Huge Gains to the Crypto Market, Its Benefits Will Gradually Emerge
On December 13, NYDIG Global Research Head Greg Cipolaro noted in a Friday report that stock tokenization won’t immediately deliver massive returns to the crypto market—but benefits will emerge gradually if such assets integrate better with blockchains.
“The networks these assets depend on—like Ethereum—have seen modest early returns, but returns will rise in tandem as assets’ accessibility, interoperability, and composability improve,” Cipolaro wrote. He added initial returns stem mainly from transaction fees tied to tokenized asset trades, while blockchains supporting these assets will also “see growing network effects from storage demand.”
“Down the line, these real-world assets could integrate into decentralized finance (DeFi) ecosystems, acting as loan collateral, lendable assets, or trading instruments,” Cipolaro said. “But this will take time—only achievable after technological advancement, infrastructure upgrades, and regulatory rule evolution.”
He also noted building
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Crypto Stocks Experience Broad Decline on Friday, Ethereum Treasury Stock Plunges, BMNR Down 9.17%
On Friday, December 13, U.S. stock markets closed with the following moves, per market data:
- S&P 500 Index: Down 1.07%
- Nasdaq Composite Index: Off 1.69%
- Dow Jones Industrial Average: Hit an intraday high before paring gains to end down 0.51%
Cryptocurrency-related stocks broadly declined, with notable moves including:
- Coinbase (COIN): -0.58%
- Circle (CRCL): -5.76%
- MicroStrategy (MSTR): -3.74%
- Bullish (BLSH): -4.05%
- Gemini (GEMI): -11.81%
- Bitmine (BMNR): -9.17%
- SharpLink Gaming (SBET): -8.85%
- Bit Digital (BTBT): -8.54%
- ETHZilla (ETHZ): -8.5%
- BTCS (BTCS): -9.01%
- BNB Network Company (BNC): -4.81%
- ALT5 Sigma (ALTS): -2.63%
- American Bitcoin (ABTC): -2.73%
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The Crypto Fear & Greed Index has dropped to 23, re-entering the "Extreme Fear" zone.
On December 13, per Alternative Data, the cryptocurrency Fear & Greed Index stands at 23 today—down from 29 yesterday—signaling a return to the "extreme fear" zone.
Note: The index ranges from 0 to 100 and is calculated using the following metrics:
- Volatility (25%)
- Market Trading Volume (25%)
- Social Media Hype (15%)
- Market Surveys (15%)
- Bitcoin Dominance (10%)
- Google Trends Analysis (10%)
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Insider: Kalshi to Predict Markets for Coinbase as Sole Operator
Coinbase is reportedly gearing up to launch an internal prediction market backed by platform Kalshi, per CNBC citing knowledgeable sources on December 13.
The move aligns with Coinbase’s strategy to expand its asset category coverage as some investors steer clear of digital assets.
Sources familiar with the matter note the pair could officially announce the partnership as soon as next week. The collaboration is non-exclusive, but Kalshi will initially be the sole operator of the prediction market on Coinbase.
Per *The Information*, Coinbase plans to roll out the product during its “Coinbase System Update” event on December 17. Bloomberg also reports Coinbase will announce tokenized stock products at the same event.
Coinbase declined to confirm the reports to CNBC, directing inquiries to its upcoming event next week.
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NASDAQ has been granted increased discretion to reject IPO applications that pose manipulation risks
**December 13th (Reuters) — The Nasdaq Stock Market has been granted expanded authority to reject initial public offering (IPO) applications that pose manipulation risks, with the U.S. Securities and Exchange Commission (SEC) immediately approving the new rule last Friday.**
Under the rule, Nasdaq may deny a company’s listing if:
- Its home jurisdiction fails to cooperate with U.S. regulatory reviews;
- Underwriters, brokers, lawyers, or audit firms tied to the IPO have engaged in questionable transactions;
- Doubts exist about the integrity of the company’s management team or major shareholders.
The move targets a recent trend: a surge of small-cap IPOs that have seen sharp price collapses shortly after listing. Over the past year, half of Nasdaq’s IPOs raised less than $15 million, and most of their share prices dropped by more than 35% within 12 months of going public.
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