Tokenized Stock Assets Have Reached $186 Million
International investors now hold $186 million in tokenized equities, including assets tracking major U.S. company shares.
Updated on Sept. 29, 2026 in Investing
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Backed expanded its xStocks offering to international crypto markets on Solana, marking a growing niche in digital finance. These tokenized products track equity shares on a 1:1 basis but remain unavailable to U.S. persons.
Why it matters
Tokenized assets provide a way to gain exposure to global equities through blockchain technology, though the total market remains a small fraction of the $145 trillion global equities market. Investors should note these tokens currently lack traditional shareholder voting rights.
Total assets under management for xStocks reached $186 million, with Tesla-tracking tokens accounting for $49 million of that total. Issuance and redemption fees are currently capped at 0.50% of the investment value.
The players
Backed
A financial firm that issues tokenized versions of traditional U.S. stocks and exchange-traded funds.
Kraken
A digital asset exchange that provides trading services and access to various cryptocurrency products for global clients.
The details
Investors purchase xStocks to mirror the price movement of specific U.S. shares, such as the TSLAx token which tracks Tesla on a 1:1 basis. Because these tokens operate on the Solana blockchain, they facilitate trading outside of standard stock market hours. However, users must account for the 0.50% fee applied to both initial issuance and eventual redemption.
Timeline
Backed introduced xStocks on the Solana blockchain in June 2025.
Kraken rolled out tokenized products to eligible non-U.S. clients on June 30, 2025.
Active wallets using these platforms reached 175,000 in July 2025.
Cumulative transfer volume tracking for the assets began in September 2025.
The TSLAx token factsheet was most recently dated September 28, 2026.
Money Landscape
The growth of tokenized equity markets reflects an attempt to bring traditional assets onto blockchain infrastructure. While volume has hit $10 billion in six months, it remains a peripheral participant compared to the $145 trillion global equities market.
International investors should review the 0.50% fee structure on all tokenized equity transactions before allocating capital. Consult with a professional to understand the risks associated with holding tokenized assets, which do not grant the voting rights typical of direct share ownership.
The takeaway
While tokenized stocks offer a novel way to track share prices, they function differently than standard brokerage holdings and remain restricted for U.S. residents. Investors should monitor for potential future changes, including the introduction of a 0.25% annual management fee.
Further reading
For more on the mechanics of digital assets, visit the Investing section.
Source note: This article includes information reported by TokenPost.
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