Update
Wall Street Challenges Blockchain-Based Stock Tokens
Wall Street is fighting over crypto-style stock trading as major companies like Costco reject tokenized shares. Costco objected to a blockchain version of its shares, but traders can now buy a blockchain-based contract (token) that follows its stock price. Kalshi lists a Costco perpetual contract, which provides price exposure without giving its buyer any shares. The two products show how differently finance treats owning a company and trading its price.