The U.S. Securities and Exchange Commission's temporary five-year Innovation Exemption for qualifying venues to trade tokenized U.S. stocks has strengthened expectations that securities markets and blockchain infrastructure will become more closely connected. Bitcoin rose 4.9% to $84,371.90 on Monday after recovering from a post-Federal Reserve rate-hike drop below $76,000, while crypto-linked stocks and major tokens also advanced. The framework permits qualifying Tokenized Securities Venues to facilitate secondary trading in tokenized National Market System stocks through permissioned automated market maker pools, subject to investor-protection conditions, without exchange registration. Goldman Sachs and Citizens identified Coinbase, Robinhood and Circle as potential beneficiaries, although requirements on shareholder rights, issuer objections, volume limits and AMM-based trading constrain the program's initial scope. Lower oil prices and improving broader risk sentiment supported the rebound, while elevated Treasury yields and expectations of further Federal Reserve tightening remained potential headwinds.