Rivian Stock vs Tokenized Exposure: What Crypto Investors Are Really Buying
Rivian's stock and tokenized RIVN exposure are attracting attention from crypto investors. The market capitalization of Nasdaq-listed Rivian is roughly $22.26 billion, with a daily trading volume of $16.34 billion.
Tokenized products like RIVNon, offered by Ondo, provide economic exposure similar to RIVN, but do not grant legal ownership rights or the right to receive underlying shares.
Kraken's RIVNx is fully collateralized by custodied Rivian shares, but tokenholders still have no shareholder rights and may face additional fees when redeeming their tokens.
The R2 production ramp is a crucial factor in Rivian's operating performance. The company has reported improved automotive revenue and narrowed gross loss, but also faces incremental costs associated with the ramp-up.