Crocs, Inc. (Coinbase Tokenized Stock), represented by the ticker CROXC/USD, is a tokenized security issued by Coinbase Onchain SPV Ltd in the Abu Dhabi Global Market (ADGM). This tokenized stock provides economic exposure to shares of Crocs, Inc. through an onchain certificate, offering investors a digital representation of traditional equity.
Each CROXC token initially corresponds to a 1:1 beneficial interest in shares held in a segregated custody account with a regulated broker-dealer and custodian. The share-to-token ratio may adjust over time due to reinvested distributions, fees, taxes, corporate actions, and other factors. Holders can transfer these tokens via supported blockchain networks and use them in decentralized finance (DeFi) markets. Dividends and other distributions from the underlying shares are reinvested, with the resulting economic benefits reflected in the adjusted share-to-token ratio.
Trading of CROXC tokens has halted on all exchanges listed on CoinGecko, and the 24-hour trading volume is currently $0. This signals a significant drop in market activity, and investors holding CROXC tokens should be aware of the low liquidity. The price performance of CROXC has shown a 0.00% increase over the past 7 days, outperforming the global cryptocurrency market, which is down -2.40%, and similar Real World Assets (RWA) cryptocurrencies, which are down -1.50%.