Tokenized equities framework xStocks has teamed with alternative investment platform Fundrise to bring onchain the newly public Fundrise Innovation Fund, expanding late-stage private market companies exposure.
The single tokenized asset VCXx is expected to go live on the xStocks platform in the coming days, according to a Friday announcement.
The move to bring Fundrise onchain comes just days after the closed-end fund began trading on the New York Stock Exchange with its portfolio that includes private shares of tech companies including Anthropic, Databricks and SpaceX. Early days trading saw the stock surge from its March 19 $31 debut price to as high as $575 per share.
However, a critical report by short seller Citron Research on Thursday which said Fundrise Advisors LLC faced SEC charges in 2023 over paid solicitation activities. Citron called on regulators to examine whether the firm is currently compensating influencers to promote VCX. The shares ended the week at $173, down almost 34% on Friday, before shedding another 5.9% in after-hours activity.
Fundrise Innovation Fund co-founder and CEO Ben Miller told CNBC on Friday that critics were mounting an unfounded smear campaign and defended the fund’s strategy and its effort to expand access to private tech companies.
**Related: **__Tokenized RWAs climb 13.5% despite $1T crypto market drawdown
_Source: _CNBC
Tokenized stocks top $1B in total value onchain
Tokenized stocks pushed past $1 billion in total value onchain earlier this month as investor interest grows in the fast-growing real-world asset (RWA) sector.
Data from RWA.xyz shows the value of tokenized equities climbing past the $1 billion mark, as platforms offering blockchain-based exposure to traditional stocks attract more investor trading and liquidity.
To be sure, much of that activity is concentrated among a small number of operators. RWA.xyz data shows that Ondo holds about 58% of the market, while tokenized stock products issued under the xStocks platform account for roughly 24%, forming an early duopoly in the sector.
Foresight Ventures in a March 10 report posited that the market is consolidating around these early leaders, citing regulatory barriers, liquidity advantages and differing tokenization models as key factors shaping competition in the sector.
Tokenized stocks crossed the $1 billion milestone. Source: RWA.xyz
**Magazine: **__China’s ‘50x’ blockchain boost, Alibaba-linked AI mines Bitcoin: Asia Express
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gate Daily (April 17): Musk’s X Money hits a roadblock with New York crypto regulation; Yuga Labs appoints a new CEO
Bitcoin (BTC) is flat at $74,920. A ceasefire between Israel and Lebanon has taken effect, and Trump says Iran agreed not to develop nuclear weapons. Mizuho Bank warns that Musk’s X Money could be affected by New York’s crypto regulation. Yuga Labs replaces its CEO: Greg Solano becomes Chairman of the Board, and Michael Figge takes over. The market is broadly optimistic. A record-high Bitcoin buying wave in the past decade has emerged, suggesting the price may be moving toward $90,000.
MarketWhisper47m ago
Solana and Ripple's 'XRP' Posts Highlight $100M Wrapped XRP Integration
Solana's recent post about "XRP" led to Ripple's reply, influencing XRP's price. This comes amid the launch of wrapped XRP on Solana through Hex Trust and LayerZero, attracting significant liquidity, highlighting an evolving collaboration in the crypto space.
GateNews14h ago
Gate Daily Report (April 16): Tether may have purchased 951 BTC; Virginia enacts crypto property law
Bitcoin continues to rise, reaching $74,630. Tether uses its profits to buy 951 bitcoins. Virginia passes an unclaimed property law, requiring idle cryptocurrency to be transferred to the state government. U.S. stocks are driven by tech stocks, and the S&P 500 index hits a new high. Crypto market dynamics show that investors are paying attention to geopolitical conditions and U.S. monetary policy.
MarketWhisper04-16 01:46
Polygon Launches sPOL to Unlock $3.6B in Staked POL and Boost Staker Rewards
Polygon has launched sPOL, a liquid staking token, enabling greater liquidity for staked POL tokens. Audited for security, sPOL allows stakers to earn rewards while using assets in DeFi, with initial liquidity from the treasury and live pools on Uniswap V4.
GateNews04-15 07:12
XRP Today News: CLARITY Act Pushes Through in May, Standard Chartered Bank Turns Bullish on $8
Ripple CEO Garlinghouse confirmed at the summit that the CLARITY Act’s goal for passage is by the end of May, and said that the controversy surrounding stablecoin yield rates is nearing resolution. If the bill passes, XRP is expected to rise to $5–$10; otherwise, it could fall back to $1.2. The bill’s passage would create a regulatory framework for the digital asset market, clarify XRP’s classification as a commodity, and reduce compliance barriers for institutional investors.
MarketWhisper04-15 02:58
Gate Daily Report (April 15): X launched Cashtags to provide encrypted financial data functionality; Bitcoin halving has completed 50%
Bitcoin (BTC) continues to rise, reaching $74,670 on April 15. On the X platform, Cashtags were launched in the United States and Canada, integrating real-time financial data and trading. With the Bitcoin halving underway, there are only 105,000 blocks left until the next reward halving. Market sentiment is optimistic, and the US stock market also recorded gains. Among various crypto-news updates, the ARIA token price has crashed, and events such as Virginia’s new law incorporating digital assets have been reported.
MarketWhisper04-15 01:48
