Blockchain.com deepens onchain stock offerings as tokenized equities market grows

Crypto platform Blockchain.com has added 173 tokenized stocks and exchange-traded funds through a partnership with Ondo Finance, bringing its catalog of tokenized traditional assets to more than 430 offerings across Ethereum, Solana and BNB Chain.

According to an announcement on Wednesday, the new listings include tokenized exposure to private company shares, active exchange-traded funds, Treasury products and covered-call strategies, with Blockchain.com highlighting SpaceX's SPCX token among the additions.

The expansion also adds themed baskets tied to AI infrastructure, energy, robotics, autonomous vehicles and quantum computing, alongside income-focused products from Global X and other issuers.

A recent proposal by the US Securities and Exchange Commission to scrap two rules in its national market system regulations has been described by Galaxy head of research Alex Thorn as “one of the biggest unlocks yet for tokenized stocks” as it would remove “one of the biggest structural barriers to tokenized US equities trading in DeFi.”

Blockchain.com said the assets are available immediately through Ondo's routing and liquidity infrastructure, which supports trading across all 173 new listings at launch.

Ondo is one of the largest tokenization platforms by asset value, with roughly $3.8 billion in distributed assets across 267 tokenized products, according to RWA.xyz data.

Source: RWA.xyz

The launch comes a week after Blockchain.com introduced a SpaceX-linked perpetual contract for institutional clients, expanding its push into tokenized and traditional financial markets.

Related: Tokenization could push DeFi assets to $2.7T by 2030: Standard Chartered

Onchain stocks building momentum

The tokenized equities market has grown rapidly this year. RWA.xyz data shows tokenized equities hold roughly $1.57 billion in distributed value, up nearly fivefold from about $330 million a year ago.

The market includes tokenized shares of public companies, exchange-traded funds (ETFs) and private firms. Among the largest tokenized equity assets by value are Strategy, Circle, Nvidia and Exodus shares.

Source: RWA.xyz

Competition has been intensifing as crypto exchanges and wallet providers race to offer onchain access to traditional financial assets. Earlier this month, Exodus launched a marketplace for more than 200 tokenized stocks, ETFs and other real-world assets through a separate partnership with Ondo Finance.

Several crypto platforms also introduced products tied to SpaceX's IPO, ranging from tokenized IPO access and pre-IPO contracts to perpetual futures linked to the company's shares. Binance said its SpaceX tokenized IPO offering attracted more than $557 million in USDC deposits from users seeking exposure to the listing.

However, the SpaceX IPO also highlighted some of the sector's challenges. Several exchanges, including Binance, Bybit, Bitget Wallet and MEXC, were forced to cancel tokenized SpaceX offerings and issue refunds after failing to secure share allocations. Many of those products relied on Kraken-owned xStocks for distribution and settlement infrastructure.

The IPO was reportedly nearly four times oversubscribed, attracting more than $250 billion in investor demand for a $75 billion offering, according to Reuters.

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