JPMorgan will tokenize part of its Invesco QQQ Trust holdings held at DTCC, while Microsoft, Circle, and SPY shares will also be tokenized.

JPMorgan, BlackRock, and Goldman Sachs join 50-firm DTCC pilot to tokenize Russell 1000 stocks and US Treasurys, with live trades starting July 2026.

DTCC is piloting the tokenization of stocks and Treasurys with JPMorgan, BlackRock, and other major firms ahead of a planned October launch.