Tokenized stock markets expand with new listings and yield products

The tokenized stock market is expanding through new listings and yield-generating products. xStocks has launched five tokenized assets on the Hyperliquid native spot market, including NVIDIA (NVDAx), SK hynix (SKHYx), Micron (MUx), the Nasdaq-100 ETF (QQQx), and the S&P 500 ETF (SPYx). These assets, which provide economic exposure to the underlying securities without granting shareholder rights like voting or dividends, feature an average liquidity of approximately $1 million per asset and average spreads of 8–12bp. The listings are part of an expansion strategy connecting HyperEVM and HyperCore via the Solana network.

Simultaneously, the on-chain asset management protocol Superform has introduced ‘SuperStocks,’ a suite of non-custodial vaults designed to monetize tokenized stocks. Utilizing Coinbase’s tokenized assets on the Base network, Superform will initially launch products centered on NVIDIA, followed by a scheduled rollout of assets including Tesla and SPC. These vaults aim to generate returns through strategies such as carry trades—borrowing USDC against tokenized stock collateral—and liquidity provision. Superform plans to expand these services beyond individual stocks to include indices and market-neutral products.