Global Token Stock Trading Up 3.5x This Year with 24/7 Access... SK hynix Sees Active Growth [Bitcoin Now]

Tokenized Stock Products Surge 252% This Year
Four Types of SK hynix ADR Token Stocks Launched
Futures Product Offering 150x KOSPI Leverage Also Released

The trading volume of "token stocks," which can be traded 24 hours a day through blockchain, is rapidly increasing. As SK hynix's American Depositary Receipts (ADR) began trading on the Nasdaq, there has also been a surge in trading of token stocks and their corresponding perpetual futures products. Token stocks refer to stocks listed on traditional exchanges or exchange-traded funds (ETFs) that are held by custodians and converted into on-chain tokens.

According to RWA analysis platform RWA.xyz on August 10, the global market capitalization of token stocks stood at USD 2.36992 billion (approximately KRW 334.11 billion) as of August 8. This represents a 252% increase from USD 673.01 million at the start of this year. RWA refers to products that securitize assets or rights on the blockchain in the form of tokens. The growth rate of token stocks ranks second among the 13 product categories defined by the platform. The venture capital (VC) sector, which involves tokenizing stakes in startups or venture funds, rose by 271% in the same period, from USD 275.78 million to USD 1.02203 billion. Tokenized private equity funds (PEFs) increased by 201.94%, from USD 419.17 million to USD 1.26567 billion.

The share of token stocks in the overall RWA market has also increased. The total RWA market size rose by roughly 50%, from USD 25.41757 billion at the beginning of the year to USD 38.16757 billion. Over the same period, the proportion of token stocks within the overall market grew by 3.56 percentage points, from 2.65% to 6.21%.

Among token stocks, those related to Circle, the issuer of the stablecoin, have seen the most active trading. The market capitalization of Circle-related token stocks is USD 218 million (KRW 307.8 billion), with eight different token stock types issued based on this. Ranking second is Securitize, a tokenization platform. On its first day of listing on the New York Stock Exchange (NYSE), this company tokenized its own stock on the blockchain. Its market capitalization is USD 191.3 million. This is followed by Strategy (USD 151.3 million), SpaceX (USD 132.6 million), Micron (USD 117.5 million), and SanDisk (USD 115.7 million).

ETF token stocks are also sizable. The ETF tracking the S&P 500 (ticker: SPY) and the ETF tracking the Nasdaq 100 Index (ticker: QQQ) have market capitalizations of USD 102.8 million and USD 91.9 million, respectively, ranking seventh and eighth.

The companies whose token stocks have been issued in the greatest variety of ways are Tesla, Nvidia, and MicroStrategy (with 11 each). Token stocks, unlike their real-world counterparts, are not listed only on a single exchange, but are tokenized from real stocks on virtual asset exchanges or platforms, allowing for trading in various venues. Coinbase stock has also been issued as ten different types of token stocks.

Token stocks linked to South Korean companies are experiencing rapid growth after being listed. Since SK hynix's Nasdaq listing last month, four types of tokenized products based on SK hynix's ADR have been launched. According to CoinMarketCap as of August 10, the combined market capitalization of SK hynix ADR-linked tokens is USD 41.77 million (approximately KRW 5.9 billion). By token, 'SKHYB,' distributed via Binance's tokenized stock service "bStocks," accounts for USD 28.63 million, representing 68.5% of the total. 'SKHYx,' issued by XStocks, followed with USD 7.04 million. 'SKHY' and 'SKHYOn,' issued by Backpack and Ondo Finance, recorded USD 3.48 million and USD 2.62 million, respectively. At one point, the market capitalization of token stocks related to SK hynix exceeded KRW 10 billion, reaching USD 70.09 million (about KRW 10.38 billion) on July 22.

There are currently no token stocks based on physical Samsung Electronics shares. This is because overseas tokenization platforms purchase stocks listed on the US stock market and then tokenize them.

Perpetual futures trading that tracks price movements or stock prices without being backed by physical stocks is also actively taking place. Last month, Binance, the world’s largest virtual asset exchange, launched 'SKHYUSDT,' a perpetual futures product based on SK hynix ADR. There are also perpetual futures related to Samsung Electronics and Hyundai Motor trading on the market. As of July 15, the 24-hour trading volume for these products reached USD 1.56 billion (around KRW 2.3 trillion), ranking third among Binance's perpetual futures products.

For these perpetual futures products, leverage of up to 150 times is possible. Binance has also started supporting trading for the futures derivative product "KORUUSDT," which allows up to 50 times leverage investment in the US-listed ETF "KORU." "KORU" is a leverage ETF that tracks the daily performance of the KOSPI Index at three times. With an added 50 times leverage, one can bet up to 150 times their principal. For example, if the KOSPI rises by 1%, one could earn a 150% profit, but conversely, even a small drop would result in losing their entire principal.

This content was produced with the assistance of AI translation services.