There is a lot of debate about the right way, and the wrong way, to tokenize securities. That framing is a false dilemma. The SEC has already recognized several different tokenization models operating in the market today, and that diversity is a feature, not a problem. That diversity of options is a strength of the U.S. financial system. Versions of each of these models—"native," "wrapped," and entitlement-based structures—are already present in U.S. markets today, and hold the promise of finding substantial investor interest if allowed to develop further onchain. At Ondo, we are uniquely positioned to support every major model of securities tokenization, and we have already demonstrated that when done right, tokenization enhances investor protections and accessibility, rather than eroding them.