Nasdaq develops equity tokens and SpaceX nears Nasdaq 100 weight increase

Nasdaq is advancing two major strategic initiatives involving blockchain technology and index composition. First, Nasdaq is collaborating with Payward to develop ‘Nasdaq Equity Tokens’ (NETs), aiming for a Q2 2027 launch. Unlike synthetic assets, NETs are designed to preserve shareholder rights, governance, and investor protections by treating token holders as actual owners. To support this, Nasdaq Ventures is investing $100 million in Payward to build a 24/7 blockchain-based trading and settlement infrastructure.

Separately, SpaceX is expected to see a significant increase in its weighting within the Nasdaq 100 index following upcoming rebalancing. Preliminary data suggests its weight could rise from approximately 1.28% to 2.82%. This shift is driven by the gradual expiration of share lockup periods, which increases the company’s free float. This reweighting is anticipated to trigger billions of dollars in automated purchases by passive funds and ETFs tracking the index.