Tokenized Stock Market Surges to $342M, Driven by Blockchain Innovators
The market for tokenized stocks, digital representations of traditional shares, is booming. Excluding EXOD, the on-chain market value has surged to $127 million, up 14 times since January. This growth, driven by platforms like Backed and Ondo Finance, has caught investors' attention.
Backed and Ondo focus on popular U.S. tech stocks and broad market ETFs, making tokenized stocks accessible and easy to trade. Meanwhile, Superstate's Opening Bell is exploring native issuance, starting with Galaxy Digital's GLXY stock, to give investors true ownership rights. This method, unlike the synthetic structure, provides real shares on the blockchain.
The tokenized stock market's rapid growth shows blockchain's potential in attracting investors quickly. However, it remains highly concentrated, with Backed and Ondo accounting for 95% of the total market value. Including EXOD, the total market value reaches $342 million. Platforms like Jupiter, a decentralized trading platform on Solana, allow trading of tokenized pre-IPO stocks, raising questions about legal status, custody, and pricing.
The tokenized stock market's growth, driven by platforms like Backed, Ondo, and Superstate, shows blockchain's potential in revolutionizing traditional finance. With a total market value of $342 million, it remains a concentrated market, dominated by a few key players. As native issuance gains traction, investors can expect more developments in this rapidly evolving space.
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