Regulatory Concerns - ESMA warns that many tokenized stock products in the EU do not grant real shareholder rights, such as voting or dividends [1] - This lack of ownership rights poses specific risks to retail investors who may be misled into thinking they own company shares [1] Tokenization Benefits & Risks - Tokenization offers benefits like fractional trading and 24/7 access [1] - Natasha Cazenave, Executive Director of ESMA, highlighted the potential for misleading retail investors [1]