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. Meanwhile, with the shifting regulatory climate in the United States, Geraci expects the soon-to-be-launched Texas Stock Exchange to fully embrace digital assets.
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 highlighted that the backing from these pro-Bitcoin firms would heavily dope their value proposition to favor crypto innovations.
Furthermore, BlackRock’s involvement might mean the Dallas-based exchange could be big on securities tokenization. The largest asset manager in the world by assets under management (AUM) has not been shy about showing interest in stocks and bonds tokenization. Geraci predicted it could leverage the TXSE’s upstart features to full effect.
The TXSE Eyes ETFs
Meanwhile, the TXSE’s latest endeavor seems to focus on the $11 trillion US exchange-traded fund (ETF) market. The exchange has poached senior ETF executives from the Chicago Board Options Exchange (CBOE) and Nasdaq.
It announced the hiring of Robert Marrocco as the global head of ETPs from CBOE and Alison Hennessy as the managing director of ETPs from Nasdaq. The hiring highlights the TXSE’s interest in the investment vehicle and its readiness to match toe-to-toe with these exchange heavyweights.
