OKX and ICE Set November 23 Launch for 24/7 Tokenized Securities Venue as Russia Opens Crypto Trading

The joint venture between crypto exchange OKX and Intercontinental Exchange, the NYSE's parent company, confirmed it will launch its tokenized securities venue on November 23 under the SEC's five-year innovation exemption, which debuted in September to bring U.S. capital markets on-chain without requiring traditional exchange registration. The platform, called OKXICE, will offer more than 70 assets for round-the-clock trading, including 59 Direxion ETFs and tokenized shares of crypto-native firms such as Coinbase, Circle, Strategy, Robinhood, and BitGo. The launch lineup skews heavily toward the crypto industry after 67 companies objected to having their shares listed on the venue, leaving big tech largely absent from the initial offering.

In a separate development, Russia's central bank published an ordinance clearing exchanges to begin organized cryptocurrency trading as early as November 22, provided they first obtain approval of their trading rules from the Bank of Russia. Moscow Exchange is targeting a later December 1 rollout. Retail investors will be limited to the equivalent of roughly $3,600 per year per intermediary, while qualified investors face no cap. BTC, ETH, and USDT are approved for public trading, though Russia's largest exchange remains under U.S. sanctions, complicating the broader market opening.

Bitcoin came under renewed pressure through the period, trading in the $73,000 to $74,000 range after failing to hold levels above $80,000, with an intraday dip below $73,000 on November 11. October U.S. CPI rose 0.4% from September, above the 0.3% forecast, pushing odds of a 50-basis-point Federal Reserve hike in December from 0% to 13.6%, with Bank of America flagging that outcome as now on the table. U.S. spot Bitcoin ETFs recorded $95 million in outflows on November 10, their fourth consecutive negative session, and 2026 net outflows have now exceeded $1.1 billion, with BlackRock's IBIT alone accounting for $403 million on a single day earlier in the month. Glassnode data showed stablecoin supply contracting $14.2 billion over 30 days, the fastest pace since June 2022, and roughly 65% of recently purchased Bitcoin is now underwater relative to the short-term holder cost basis of $75,600. Options traders on Derive are pricing a 31% probability of Bitcoin falling below $70,000 by Christmas, while on-exchange spot volume has dropped to 126,000 BTC per day, the lowest since 2016 and down 72% from 2022 levels, thinning order books and amplifying price swings in both directions. Glassnode identifies $73,000 as the key support level, warning a sustained break below it could signal an extended consolidation.