Nasdaq Tokenized ETF (xStock) Ownership Concentration Revealed
The Nasdaq tokenized ETF (xStock) has a highly concentrated ownership structure, according to data from CryptoRank. The top 100 wallets hold 100% of the total 34.06K token supply, with wallets holding 99.79% and contracts holding the remaining 0.21%. This concentration is reflected in the whale and shark categories, which make up a significant portion of the token distribution.
The largest holder is a wallet with over 29.23K tokens, representing 85.8% of the total supply. The second-largest holder also holds a substantial amount, with 3.60K tokens making up 10.6% of the total supply. The top five holders collectively control nearly 98.7% of the token distribution.
The data highlights the highly concentrated ownership structure of the Nasdaq tokenized ETF (xStock), which may have implications for its price volatility and overall market dynamics.