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T. Rowe Price Demands Instant Fungibility for Tokenized Stocks

By Markets Desk · 2026-09-19 · Updated 2026-09-19 18:16 UTC
A digital coin resting on a stack of physical paper currency
Illustration: Tradingbird

T. Rowe Price’s Blue Macellari insists tokenized shares must be instantly fungible with legacy formats to prevent liquidity fragmentation, while arguing that industry progress will continue via agency-level rulemaking despite the recent Senate failure of the CLARITY Act.

  • According to GN auto markets/crypto: digital asset, the head of digital assets at T. Rowe Price noted that major infrastructure providers like DTCC and Nasdaq are rapidly advancing tokenization capabilities, a trend she describes as building in parallel to protect the integrity of legacy equities markets.

    Source: Stocktwits

  • Blue Macellari states that tokenized shares must be instantly interchangeable with legacy formats to avoid liquidity fragmentation.

    Source: TradingView
Based on reporting by TradingView and Stocktwits, compiled by the Tradingbird desk.

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