Bullish Forms Coalition to Set Tokenized Stock Standards
The coalition targets the gap between direct ownership and synthetic stock exposure as the SEC opens a limited path for onchain U.S. equity trading.
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The coalition targets the gap between direct ownership and synthetic stock exposure as the SEC opens a limited path for onchain U.S. equity trading.
A tokenized stock is usually a structured note, not a share. You get the price exposure but not the share itself, and that gap hides issuer, redemption, and legal risks most users miss.
The headline number is the 314% YTD cap jump, but the more durable signal is consolidation: bStocks and Robinhood now run 87.8% of tracked issuer volume after holding 0.8% three months ago.
South Korea's Ministry of Finance has determined that tokenized stocks fall under the country's securities framework…
Crypto-linked issuers dominating on-chain equity tokenization suggests the RWA equity thesis remains reflexive, driven by crypto-native demand for synthetic exposure to crypto-native firms.
Rapid growth is putting on-chain equities in focus, but the rights attached to a stock token remain central to assessing it.
The rollout pairs ADGM-regulated custody with 24/7 trading and DeFi access, testing whether traditional equity exposure can become composable onchain.
The relief is temporary and conditional, but it brings permissioned automated market makers into the regulatory framework for trading tokenized NMS stocks.
The asset class is still a rounding error against TradFi, but the compounding rate is now the story: five onchain categories are pulling real capital migration.
The jump from under 7% in 2025 to roughly 20% in H1 marks the clearest structural shift in exchange behavior since the memecoin era.
Tokenized shares of Apple, Tesla, and commodities like oil and gold are now usable as margin on a 24/7 perp venue, a structural step for real-world assets meeting on-chain derivatives.
The same CUSIP, ticker, and order book — tokenized shares would clear through DTC on a T+1 basis, putting Wall Street's deepest liquidity pool behind on-chain rails.
Tokenized stocks have topped $3B in onchain value, while Securitize’s model links blockchain-based tokens to underlying shares, shareholder rights and dividends.
Ondo's vice chairman maps market infrastructure, customer-driven and issuer-sponsored paths and warns that picking a winner at the starting line puts US capital markets at a global disadvantage.
The milestone adds an ownership metric to RWA adoption, complementing trading volume and market cap with a measure of breadth.
Bitwise's framing is that the model comes to the user. For a $9B crypto asset manager, ATPs are a structural test of whether tokenized stocks can actually behave as DeFi collateral at scale.
The STA's letter pushes the Commission to draw a hard line between authorized onchain equity and synthetic wrappers.
Tokenized equities can route through permissioned onchain AMMs without triggering 1934 Act exchange classification. Narrow and temporary, but the first U.S.-blessed onchain venue for NMS stocks.
The five-year exemption favors real shareholder rights and permissioned AMMs, while synthetic stock products face a tougher route into U.S. markets.
Ondo Finance tokenizes US Treasuries into USDY and OUSG, gated to verified investors. Here's how each product differs and what ONDO the token actually does.