Tokenized stocks are blockchain-based assets that represent or track publicly traded stocks. Some are backed by real shares held in custody, while others are derivatives or synthetic products that only track a stock’s price. Depending on the structure, you may or may not get shareholder rights such as voting and dividends.
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Tokenized stocks can differ in how they’re backed, traded and what rights they provide. Here’s a quick overview of the key features to compare:
| Feature | Tokenized stocks |
|---|---|
| What you hold | Blockchain-based token or security |
| Backing | Real shares, depending on structure |
| Trading | Often 24/7 or extended hours |
| Fractional ownership | Often |
| Dividends | Depends on product |
| Voting rights | Depends on product |
| Self-custody | Depends on product |
| Availability | Varies by country |
A tokenized stock is a blockchain-based representation of a stock or an investment product linked to a stock. It lets investors gain exposure to companies such as Apple, Tesla or Nvidia through a digital token rather than buying shares through a traditional brokerage.
But “tokenized stock” doesn’t necessarily mean you own the underlying shares. Some tokens represent an ownership interest in actual securities, while others simply give you exposure to a stock’s price through a derivative or other financial arrangement.
What you actually own — and what rights you receive — depends on how the token is structured. For example, some products may provide access to dividends or redemption of the underlying asset, while others may provide only price exposure. Always check the product’s terms before assuming a token gives you the same rights as a conventional share.
The process depends on how the token is structured. The SEC identifies three main models for tokenized securities: issuer-sponsored, custodial and synthetic.(1)
The first two can represent an ownership interest in an underlying security, while synthetic products provide price exposure without giving you rights to the underlying stock.
This distinction matters because a token can track a stock’s price without giving you the same ownership rights as buying the stock itself. The SEC’s January 2026 statement notes that tokenized securities can differ in both their structure and the rights they provide to holders.(1)
Not necessarily. Buying a token linked to a company’s stock does not always give you the same ownership interest as buying that company’s shares through a brokerage. What you own depends on how the token is structured and the rights attached to it.
| Feature | Traditional stock | Tokenized stock |
|---|---|---|
| Ownership of underlying share | Yes | Depends on structure |
| Voting rights | Usually yes for common stock | Depends on product |
| Dividends | Yes, when declared | Depends on product |
| Blockchain transfer | No | Often |
| Self-custody | No | Depends on product |
| Trading outside normal hours | Limited, though extended-hours trading is available | Often |
| Fractional ownership | Often available | Often available |
They can, but it depends on the product. An issuer-sponsored tokenized security may carry dividend rights comparable to traditional shares. A custodial token can also pass through dividends from the underlying shares. Synthetic products, however, may not give you a right to the company’s dividends.
Some can. Tokenized securities that represent an ownership interest in the underlying stock may provide voting rights, while synthetic products generally don’t give you rights against the company whose stock they track.
Sometimes, but there is no universal right to do so. Redemption depends on the product’s legal structure and terms, including how the underlying shares are held and who can redeem them. A token can be backed by real shares without necessarily giving every retail holder a direct mechanism to exchange the token for those shares.
“Tokenized stock” describes how an asset is represented, not necessarily what you own. Before buying one, check whether it represents an actual security, an indirect interest in an underlying share or simply price exposure.
Tokenized stocks and stock perpetuals (“perps”) can both give you exposure to the price of a company’s shares, but they are different types of products.
| Feature | Tokenized stock | Stock perp |
|---|---|---|
| What it is | Tokenized security or related investment product | Derivative contract |
| Backed by shares | Sometimes | No |
| Ownership rights | Depends on structure | No |
| Leverage | Not inherent | Often available |
| Funding payments | Usually no | Yes |
| Expiration | Depends on product | Typically none |
A tokenized stock may represent an actual security or an interest in underlying shares held by a custodian. Synthetic tokenized products can instead provide price exposure without ownership of the underlying stock.
A stock perp, by contrast, is a derivative designed to track an underlying stock’s price. You don’t need to own the stock to trade the contract, and you can often open positions with leverage. Perpetual contracts also use funding payments between long and short traders to help keep the contract’s price aligned with the underlying market.
So while both products can track the same stock, a tokenized stock may represent an investment in a security, while a stock perp is a leveraged trading instrument based on its price.
For US investors, the market is still developing. Several major crypto platforms offer tokenized stocks internationally, but those products are not necessarily available to US customers.
As of September 2026, US-accessible options are emerging through regulated securities platforms, while some of the largest offshore offerings remain unavailable to US persons.
| Platform | Product | Structure | US availability | Self-custody |
|---|---|---|---|---|
| Securitize | Tokenized public stocks, including SECZ | Issuer-sponsored | Eligible US investors | Depends on product |
| Ondo / Oasis Pro Markets | Tokenized stocks and ETFs | Custodial, backed by underlying securities | US market infrastructure; availability varies | Depends |
| Kraken / xStocks | Tokenized stocks and ETFs | 1:1 backed | Not available in the US | Yes |
| Exodus Markets | 400+ tokenized stocks and ETFs | Exposure to underlying securities | Not available in the US | Yes |
Securitize currently offers issuer-sponsored tokenized stocks to eligible US investors through its regulated platform. Its first US-listed tokenized stock was its own common stock, SECZ, which began trading on the NYSE in July 2026.(2)
Ondo has also established US infrastructure for tokenized securities through its broker-dealer subsidiary, Oasis Pro Markets. In July 2026, Oasis Pro received FINRA authorizations to offer tokenized equities and funds to US investors.(3) Ondo’s consumer-facing Ondo Stocks platform, however, still says it is not available to US-based clients, so availability depends on the specific offering and distribution channel.
Availability can change quickly as US regulators and platforms expand tokenized-stock offerings. Check the platform’s current eligibility requirements before opening an account or transferring funds.
Buying a tokenized stock is similar to buying other crypto assets, but there are a few extra things to review first:
The mechanics of placing the trade are usually straightforward. The more important step is understanding exactly what you’re buying and what rights it comes with.
Yes, but the rules depend on how the token is structured and where you live.
For US investors, legal treatment can depend on what the token represents, who issues it, what rights it gives investors and where it is traded. The SEC has provided more clarity on these distinctions in 2026, while also creating a temporary framework for certain onchain stock trading.(1)
Here are the key developments to know:
The rules regarding tokenized stocks are rapidly changing in the US. Check the laws and eligibility requirements that apply where you live before buying.
Tokenized stocks can offer features that traditional stock trading doesn’t, but those benefits come with additional risks. What you gain and what you risk depends largely on the token’s structure, issuer, custody arrangements and trading platform.
| Potential benefits | Risks to consider |
|---|---|
| 24/7 trading. Some tokenized stocks can be traded outside traditional market hours. | Counterparty risk. Asset-backed tokens depend on the issuer, custodian and other intermediaries to maintain the underlying assets. |
| Fractional ownership. You can often buy a portion of a tokenized stock rather than a whole share. | Regulatory risk. Rules and availability vary by jurisdiction and are still evolving. |
| Faster settlement. Blockchain transactions can settle more quickly than conventional stock trades. | Liquidity risk. Tokenized stock markets are smaller than traditional equity markets, which can make some tokens harder to trade at a desired price. |
| Self-custody. Some tokens can be transferred to a compatible crypto wallet rather than remaining on an exchange. | Technology risk. Smart-contract bugs, blockchain outages and inaccurate price data can affect some products. |
| DeFi integration. Compatible tokens can potentially be used in lending, liquidity pools and other DeFi applications. | Different shareholder rights. A token may not provide the same voting, dividend or redemption rights as a traditional share. |
Some products can also trade at a premium or discount to the underlying stock, particularly when liquidity is limited or traditional markets are closed. Synthetic products carry additional risks because they can rely on price oracles and derivatives rather than an underlying share.
Not all tokenized stocks work the same way. Before buying one, check the product’s terms so you know what you’re actually getting and what happens if something goes wrong.
The goal is to look beyond the stock’s name and price. The token’s structure and terms determine the rights, protections and risks that come with it.
Tokenized stocks let you trade exposure to traditional stocks using blockchain technology, but they don’t all give you the same ownership rights. Some are backed by real shares, while others are structured as securities or derivatives that track a stock’s price.
Before buying, check what the token represents, what rights it provides, how the underlying assets are held and whether the product is available to you.
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