Tokenized Equities
Data verified 2026-10-27Listed shares or ETF interests issued as tokens (xStocks, Dinari, Robinhood EU), offering price exposure and longer trading hours. Most structures are derivatives or custodial receipts, not direct share ownership.
365rwa.vip is a Chinese-language verification site for RWA (real-world asset tokenization). It maintains four public databases - issued-project dossiers, a global licensed-institution registry, a regulatory feed and a market tracker - and offers a free authenticity-check tool, five-dimension ratings and a published methodology. No ads, no paid placements, no advertorials.
- Tokenized Equities: 3 rated projects, 6 issuance dossiers and 961 tracked tokens, $460.0M in total size.
- Average yield n/a, average score 83/100 (custody 30 / legal 25 / on-chain 20 / liquidity 15 / team 10).
- Size and yield move daily with the market; figures on this page are a snapshot at calculation time. Scores are research opinion, not investment advice.
How big is this class (data verified 2026-10-27)
Representative projects (by size)
Full database →| # | Project | Size | Yield | Score |
|---|---|---|---|---|
| 1 | Ondo Global Markets (Tokenized US Stocks) Ondo Finance | $460.0M | — | 84 |
| 2 | Dinari dShares (Tokenized US Stocks) Dinari | — | — | 83 |
| 3 | Backed xStocks (Tokenized US Stocks / ETFs) Backed Finance × Kraken | — | — | 83 |
Related issuance dossiers
6 projectsLaunched six leveraged/inverse tokenized equity products on Solana on 2026-05-26, self-described as the first liquidation-free leveraged RWA protocol, with off-chain Alpaca custody and daily rebalancing. Note: the tokens are not registered securities and no licence or filing number is public; the $SHFT platform token has under 50 holders and ~$130K market cap with airdrop-driven growth — an early-stage permissionless DeFi protocol whose "legality" is self-claimed and unverified by any regulator.
Underlying: TSLA 2x long / 1x inverse, SOX semiconductors 3x long/short, SPX 3x long/shortApproval/Regulator: Tokens are NOT registered securities; U.S. and U.K. users restrictedPartners: Alpaca Markets (custody) · Chainlink · SNZ Holding
Launched as the largest tokenized equities platform with over half the market. The SEC closed its probe of Ondo in November 2025 without charges — a landmark for compliant tokenized stocks.
Underlying: U.S. stocks & ETFs (100+ at launch, now 201)Size: $460M+ within months of launchApproval/Regulator: Approved in Liechtenstein; distribution across 30 EEA states
Backed-issued, Kraken/Bybit-listed tokens backed 1:1 by real shares, covering 60+ U.S. stocks and ETFs mainly on Solana. Kraken acquired Backed in December 2025.
Underlying: U.S. stocks & ETFs (Apple / Tesla / NVIDIA etc.)Approval/Regulator: Swiss DLT Act issuance frameworkPartners: Kraken · Bybit · Solana (primary chain)
Robinhood launched 200+ U.S. stock and ETF tokens for EU users with 24/5 commission-free trading, and announced its own Arbitrum-based Layer 2 to host tokenized assets.
Underlying: U.S. stocks & ETFs (incl. OpenAI / SpaceX private-share tokens)Partners: Arbitrum (own RWA Layer 2 announced)
The first tokenized-stock issuer registered as an SEC transfer agent. dShares are backed 1:1 by real shares, pass through dividends, and are offered as tokenization-as-a-service.
Underlying: U.S. stocks (1:1 backed by real shares)Approval/Regulator: U.S. SEC-registered transfer agentPartners: Arbitrum · Coinbase WaaS
The first BaFin-regulated DeFi exchange, listing tokenized Apple, Tesla and other stocks plus U.S. Treasury bonds, all 1:1 backed by custodied assets for eligible investors.
Underlying: U.S. stocks (Apple / Tesla etc.) + U.S. TreasuriesApproval/Regulator: BaFin-regulated (Germany)
Regulatory points (from the approvals database)
All regulatory updates →The Securities and Futures Commission (SFC) of Hong Kong has approved the first tokenized mutual fund for secondary market trading on a recognized platform—the SFC’s inaugural approval for such products.
The U.S. Securities and Exchange Commission (SEC) has proposed new rules and amendments to establish a dedicated custody framework for registered investment advisers and regulated funds (e.g., registered investment companies) holding crypto assets, ensuring compliance with federal securities laws.
The U.S. SEC issued an 'Innovation Exemption' permitting on-chain trading of certain tokenized National Market System stocks and opened it for public comment.
The Hong Kong Monetary Authority supported Hong Kong Mortgage Corporation in completing its inaugural HK$12 billion public digital bond issuance—the first of its kind in Hong Kong's market.
Granted to: The Hong Kong Mortgage Corporation Limited · Official source ↗ · ⚑
Recurring packaging patterns in this class
- Calls a "tokenized stock" direct ownership - most structures carry no voting rights, dividends or shareholder remedies.
- Claims to bypass brokers for US equities while sitting under no regulator and no licensed entity.
- Markets itself with a well-known company name ("XYZ company token") with no authorisation or relationship with that company.
Patterns we see repeatedly during checks. Not an accusation against any specific project.
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365rwa.vip, "Tokenized Equities", data verified 2026-10-27, https://365rwa.vip/topics/equity/