In December 11, 2025, the U.S. SEC officially approved a pilot project for tokenization of securities operated by financial infrastructure giant DTCC. The project is planned to launch in the second half of 2026 and will last for three years, tokenizing traditional assets such as Russell 1000 constituents, U.S. Treasury bonds, and mainstream ETFs in a controlled blockchain environment. This marks a key step toward the integration of blockchain into the core financial markets of the U.S., aimed at exploring efficiency enhancements such as round-the-clock trading and instant settlement, while maintaining existing legal rights and regulatory compliance.