The SEC has opened a five-year path for tokenized stocks, but only some products and venues fit the model. Will Uniswap, Robinhood, Coinbase or Kraken come out on top?.

Prices at the time of writing, on 23 September: Uniswap (UNI) at $9.13, which slipped 1.1% over the previous day and climbed 50.3% across the week. The wider market slipped 2.7% over the same span, with total capitalisation at $2.93T.

Our own momentum signal on Uniswap reads 100 out of 100 — bullish — weighting the 24-hour move twice the seven-day one. Fifty is flat; the venue or filing has no say in that score.

Coinbase is one of the venues we rate: 9.4 out of ten on our method, with 9.1 for liquidity depth, 9.7 for custody practice and 9.5 for disclosure. That score is ours and the venue has no say in it.