Tokenized stocks: IMF puts the market at $2.3 billion, SEC opens the door
This week, Binance accepted tokenized stocks as margin collateral, while OKX and Intercontinental Exchange filed an application with the SEC to offer more than 60 tokenized stocks for 24/7 trading. The IMF has put a figure on the market.
The IMF’s figures (as of July 31)
→ Tokenized stocks: about $2.3 billion, out of $65.1 billion $ in tokenized real-world assets, or about 3.5% (my calculation)
→ More than half of the activity takes place outside U.S. market hours
→ About 80% of transactions are for less than one share
→ Ondo and Backed Finance together account for about 70% of the value
→ The IMF describes the market as “small and fragmented,” with low liquidity
The U.S. framework: the SEC has introduced a “tokenized securities trading venue” status, with a temporary five-year exemption. Companies targeted by OKX’s application have 30 days to prohibit the tokenization of their shares, and Cerebras has already filed an objection. Robinhood has criticized the volume limits.
One caveat: Binance’s bStocks are certificates, not shares (June 1 announcement), whereas the model described for OKXICE is based on tokens backed one-for-one by real shares held by a broker.
My analysis: the market is still small, but activity outside market hours points to a real need for continuous access. Liquidity and legal clarity will determine what happens next. This is a hypothesis, not a forecast.
This is not investment advice.
Before buying a tokenized stock, what matters most to you: voting rights, liquidity, or 24/7 access?
#Binance
This week, Binance accepted tokenized stocks as margin collateral, while OKX and Intercontinental Exchange filed an application with the SEC to offer more than 60 tokenized stocks for 24/7 trading. The IMF has put a figure on the market.
The IMF’s figures (as of July 31)
→ Tokenized stocks: about $2.3 billion, out of $65.1 billion $ in tokenized real-world assets, or about 3.5% (my calculation)
→ More than half of the activity takes place outside U.S. market hours
→ About 80% of transactions are for less than one share
→ Ondo and Backed Finance together account for about 70% of the value
→ The IMF describes the market as “small and fragmented,” with low liquidity
The U.S. framework: the SEC has introduced a “tokenized securities trading venue” status, with a temporary five-year exemption. Companies targeted by OKX’s application have 30 days to prohibit the tokenization of their shares, and Cerebras has already filed an objection. Robinhood has criticized the volume limits.
One caveat: Binance’s bStocks are certificates, not shares (June 1 announcement), whereas the model described for OKXICE is based on tokens backed one-for-one by real shares held by a broker.
My analysis: the market is still small, but activity outside market hours points to a real need for continuous access. Liquidity and legal clarity will determine what happens next. This is a hypothesis, not a forecast.
This is not investment advice.
Before buying a tokenized stock, what matters most to you: voting rights, liquidity, or 24/7 access?
#Binance