Exodus, Ondo Launch 200+ Tokenized Equities Marketplace
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- Exodus launched a tokenized stock marketplace with Ondo Finance, adding more than 200 onchain equities.
- Tokenized stocks climbed to $3.5 billion in value, up more than 139% over 30 days, with holders rising 37% to roughly 357,000, per RWA.xyz data.
- xStocks, backed by Kraken and issued by Backed Finance, accounts for approximately $2.5 billion — over 69% of the sector after 500%+ growth in a month.
- Ondo Finance holds about $2.7 billion in tokenized real-world assets, led by its USDY and OUSG Treasury funds.
- SpaceX shares gained around 22% on Friday's stock-market debut, rising from an opening price of $135 to about $164 by midday, according to Yahoo Finance.
- Bybit announced it would refund SpaceX IPO subscribers after xStocks failed to secure the underlying shares needed to fulfill allocations.
Why it matters: With roughly 69% of the $3.5 billion tokenized stock sector already controlled by Kraken-backed xStocks, Exodus's entry via Ondo — which holds $2.7 billion in tokenized RWAs — faces a market with one dominant incumbent. The Bybit refund on SpaceX IPO allocations shows the execution risk in the pre-IPO tokenization race that Binance, Coinbase, and Blockchain.com are all joining.
