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including shares of Tesla, Apple, and Nvidia — without issuer consent and under lighter regulatory requirements than traditional securities…equity claim backed by a regulated custodian. Synthetic trackers give price exposure only, with no shareholder rights
could purchase in the secondary market today, not synthetics." She pointed readers to the SEC's January statement…which draws a clear line between issuer-sponsored tokenized stocks and synthetic instruments that merely reference a security
equity products that carry full shareholder rights, not synthetic tokens that merely mimic stock exposure. The distinction carries…structured products; a narrow one effectively forces issuers to replicate the full legal wrapper of equity ownership, raising
pressure point — it forces issuers to build compliant, rights-bearing instruments rather than synthetic wrappers that strip economic
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