Nasdaq CEO: Tokenization Could Unlock Tens of Billions in Capital
Adena Friedman says blockchain-based tokenization may release tens of billions in illiquid capital, signaling Wall Street's growing embrace of the technology.
Nasdaq Chief Executive Adena Friedman said tokenization of financial assets has the potential to unlock tens of billions of dollars in capital that is currently trapped in illiquid markets, lending fresh credibility to a technology that has long been debated on Wall Street.
Tokenization refers to the process of converting ownership rights in real-world assets — such as private equity stakes, real estate, or bonds — into digital tokens recorded on a blockchain. Proponents argue the approach can make traditionally illiquid assets easier to trade, settle, and access for a broader pool of investors.
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Friedman's remarks place one of the world's most prominent exchange operators firmly in the camp of institutional advocates pushing for wider adoption. Nasdaq's endorsement carries weight given its central role in global capital markets infrastructure, and her comments suggest the exchange is watching the space closely as regulatory frameworks begin to take shape.
The statement adds to a growing chorus of senior financial executives who view tokenization not as a speculative novelty but as a structural tool capable of reshaping how capital flows through markets. Analysts have noted that releasing even a fraction of illiquid capital into more liquid, tokenized form could have significant downstream effects on pricing, access, and market efficiency.
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