NASDAQ requires shareholder votes prior to issuance of shares used to purchase cryptocurrency. Strategic stocks have made the news, but they've kept them at 3% in pre-market trading.
The added checkpoints land directly on the fast-growing playbook where public companies sell equity or convertibles and buy tokens for their balance sheets.
review Complement existing list standards. NASDAQ rule 5635 is already required Shareholder approval in some circumstances, including private placements that have reached the so-called 20% threshold, codified in the exchange rule text filed with the SEC and related guidance, and including certain control changes or acquisition structures.
The NASDAQ enforcement division also highlights its duties in police compliance with the rules of exchange and federal securities law.
Timing is important. This year, a surge in Crypto-Treasury pivots has restructured the small capital market. Using a number of lists on Nasdaq, Architect Partners tracks 184 public companies that have disclosed plans to raise more than $132 billion for token purchases.
The waves span assets such as Bitcoin, Ethereum, Solana, XRP, and include vehicles dedicated to holding or accumulating crypto.
The market responded quickly to reported policy shifts. Crypto-share stocks fell during Thursday's session as investors weighed procedural steps and additional timing risk outlook.
However, the appetite for pure play remains invisible. Bitcoin, a miner and financing company backed by the Trump family created through the merger, debuted on the Nasdaq, closing 16.5% at $8.04.
The context of regulation is shifting in parallel. The SEC has announced a rulemaking agenda that refers to a broader framework of digital assets, including making it clearer about the scope of offers and sales and sales for trading on national stock exchanges and alternative trading systems.
Separate House and Senate proposals draw jurisdiction between the SEC and the CFTC and set a timeline for implementing new rules. That federal background actually interacts with exchange-level gatekeeping where capital can speed up or accelerate.
Cryptocurrency company exploded
The landscape is wider than Bitcoin. Ethereum-centric finance was formed through large-scale spot buying and staking programs. Sharplink has disclosed over 176,000 ETHs, accumulating on an average of $2,626, and has since surpassed 200,000 ETHs as part of the stated reserve strategy.
Solana has drawn the pivots and funding of the balance sheets of companies, including Upexi and Defi Development Corp., but Bitcoin-only structures are seeking lists through SPACs such as the Bitcoin Standard Treasury Company. A plan focused on XRP has also emerged, with Vivopower's funding and deployment program, as well as subsequent moves, earning yields through flares.
The NASDAQ shareholder approval screen does not prohibit the Ministry of Cryptocurrency. We raise bars by routing many funding through votes. This can affect the rhythm of the transaction and the outcome of pricing.
Companies considering pipe, convertible, or related party structures should model exchange rules in advance, including thresholds and exceptions such as financial viability and changes in control.
Changes to the policy arrive as the issuer is still pursuing to balance sheet management, payment experiments, or token exposure for stock positioning per share.
The first phase of this year's Treasury rush provided new lists, larger token reserves and price volatility across small-cap names.
With the reviews added to NASDAQ, Rush will turn into a process of running shareholder meetings, proxy calendars and compliance checks.
The exchange has begun applying scrutiny, and issuers planning the Cryptocurrency Department are now facing a vote.
