---
title: "Tokenization and Treasuries: The Quiet Capital Markets Revolution"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/301685186.md"
description: "Nasdaq's tokenization push anchors a sector-wide shift as Treasury yields hit 5%. Liquidia battles patent fallout while volatility ETFs and AI-infrastructure plays signal divergent market narratives—all converging on structural reinvention over short-term metrics."
datetime: "2026-10-13T09:23:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/301685186.md)
  - [en](https://longbridge.com/en/news/301685186.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/301685186.md)
generator: "portal-rs"
---

# Tokenization and Treasuries: The Quiet Capital Markets Revolution

Nasdaq (NDAQ.US) is spearheading a quiet revolution in capital markets with its $100 million investment in Payward—the move signals Wall Street’s growing conviction that tokenization could unlock hundreds of billions in “stranded” collateral. CEO Adena Friedman’s recent declaration aligns with HSBC clearing wins and AI infrastructure upgrades, even as short interest climbs 2.54% by quarter-end.

Liquidia (LQDA.US) faces existential pressure after United Therapeutics’ patent victory triggered a 57% plunge and SEC probe. Yet analysts see 71% upside if litigation risks fade—a high-stakes gamble for this pulmonary hypertension specialist.

The volatility complex tells another story: VIXY (VIXY.US) surged as Bitcoin (BTC.US) tumbled below $86K, while BIL (BIL.US) soaked up cash fleeing risk assets amid 5% Treasury yields. These flows highlight a market bifurcation—fear on one side, safety on the other.

Amid the chaos, Velo3D (VELO.US) defied CFO turmoil by reaffirming $65M-$75M revenue guidance, banking on DoD contracts to attract acquirers. Keel Infrastructure (KEEL.US) pivoted from crypto mining to AI data centers, leveraging $825M liquidity to navigate permitting delays. Meanwhile, Figure (FIGR.US) reported 107% YoY loan volume growth—proof blockchain credit platforms are gaining institutional traction.

From lithium miners like Lithium Americas (LAC.US) to battery maker T1 Energy (TE.US), the common thread is adaptation. As Treasury yields reset capital allocation rules, companies betting on structural shifts—not quarterly metrics—are capturing investor imagination.

### Related Stocks

- [NDAQ.US](https://longbridge.com/en/quote/NDAQ.US.md)
- [LQDA.US](https://longbridge.com/en/quote/LQDA.US.md)
- [TE.US](https://longbridge.com/en/quote/TE.US.md)
- [LAC.US](https://longbridge.com/en/quote/LAC.US.md)
- [VELO.US](https://longbridge.com/en/quote/VELO.US.md)
- [KEEL.US](https://longbridge.com/en/quote/KEEL.US.md)
- [FIGR.US](https://longbridge.com/en/quote/FIGR.US.md)
- [BTC.US](https://longbridge.com/en/quote/BTC.US.md)
- [VIXY.US](https://longbridge.com/en/quote/VIXY.US.md)
- [BIL.US](https://longbridge.com/en/quote/BIL.US.md)

## Related News & Research

- [Is Nasdaq (NDAQ) A Bargain On Earnings Growth Expectations?](https://longbridge.com/en/news/302648862.md)
- [10,820 Nasdaq, Inc. $NDAQ Shares Sold by Prime Capital Investment Advisors LLC](https://longbridge.com/en/news/302964262.md)
- [What To Expect From Nasdaq’s (NDAQ) Q3 Earnings](https://longbridge.com/en/news/302496289.md)
- [293,835 Nasdaq, Inc. $NDAQ Shares Sold by Robeco Institutional Asset Management B.V.](https://longbridge.com/en/news/302684396.md)
- [Nasdaq CEO Says Markets Are Heading Toward An AI-Driven, 'Always-On' Future](https://longbridge.com/en/news/302718207.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**