Nate Geraci, the president of the ETF Store, has asserted a close collaboration between the crypto industry and the forthcoming Texas Stock Exchange.
The Texas Stock Exchange (TXSE) filed paperwork with the US Securities and Exchange Commission (SEC) in January and plans a market debut in 2026. The stock exchange looks to disrupt the duopoly between the two New York-based platforms, the NYSE and
Nasdaq
.
Interestingly, Geraci stated in a
tweet
today that the TXSE would leverage the emerging crypto industry in its quest to gain instant relevance upon its debut. As a result, he anticipates a “highly” crypto-friendly stance from the Dallas, Texas-based exchange.
A Crypto-Friendlier Stock Exchange
While the Nasdaq and the NYSE have grown to support the crypto industry, their regulatory capture remains a significant factor influencing their disposition towards the sector. As regulations around digital assets continue to evolve, Geraci expects the soon-to-be-launched Texas Stock Exchange to fully embrace the potential of these innovative technologies.
Moreover, the TXSE has raised over $160 million from Wall Street heavyweights like BlackRock, Citadel, and Schwab, who are core crypto supporters. The ETF Store president emphasized that backing from these pro-Bitcoin firms would significantly enhance their value proposition, favoring the advancement of crypto innovations.
Furthermore, BlackRock’s involvement might indicate that the Dallas-based exchange could lead the charge on securities tokenization. With BlackRock being the largest asset manager in the world by assets under management (AUM), it has publicly expressed interest in tokenization projects dealing with stocks and bonds. Geraci has predicted that the exchange could utilize its upstart features to maximize these opportunities.
The TXSE Eyes ETFs
Meanwhile, the TXSE is setting its sights on entering the massive $11 trillion US exchange-traded fund (ETF) market. The aim is to carve out a niche for itself within this lucrative sector. To bolster its position, the exchange has strategically recruited senior ETF executives from the Chicago Board Options Exchange (CBOE) and Nasdaq.
Notably, the TXSE announced the hiring of Robert Marrocco as the global head of exchange-traded products (ETPs) from CBOE and Alison Hennessy as the managing director of ETPs from Nasdaq. These appointments underscore the TXSE’s ambition to compete robustly against established exchange giants, marking its readiness to capitalize on the opportunities in the investment vehicle space.
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