Tokenized Equities Surge: GOOGL-Linked Tokens Gain $33M in Market Cap
Tokenized equities are gaining traction, as demonstrated by Alphabet's GOOGL-linked stock tokens, which have seen an aggregate market capitalization increase of $33.4 million over the past week.
This growth reflects genuine capital inflows rather than just price appreciation on a thin float, according to recent data.
GOOGL-linked tokens are essentially digital receipts issued on a blockchain, backed 1:1 by actual Alphabet shares held in custody. They track share prices in real-time and can be traded around the clock, integrating into decentralized finance protocols like regular ERC-20 tokens.
In exchange for these benefits, investors give up voting rights and formal beneficial ownership of Alphabet stock.
Several platforms are now competing in this space, including Backed.fi's GOOGLX on Solana, with a market cap approaching $36 million, and Ondo Finance's GOOGLon at around $21 million. The launch of Robinhood Chain's mainnet on July 1 has also contributed to the uptick in liquidity and trading activity across tokenized GOOGL instruments.
The combined market cap of all GOOGL-linked tokens is still measured in the tens of millions, a fraction of Alphabet's massive market capitalization. Academic researchers are examining how price discovery works for these instruments, particularly on newer platforms like Robinhood Chain.