xStocks Tokenized Equity Market Reaches $186M in Assets Under Management

The tokenized equity market has expanded rapidly since its launch in June 2025. Backed, the issuer of xStocks, reported that the assets under management (AUM) for these products have increased by more than ninefold, reaching approximately $186 million. The Tesla xStock (TSLAx), a tokenized debt instrument designed to track Tesla shares on a 1:1 basis, had the highest reported AUM at $49 million, with a supply of 107,000 TSLAx tokens.

The growth in the tokenized equity market is significant, but it remains limited to international crypto users. The products are unavailable to U.S. persons due to regulatory restrictions. However, the expansion across multiple blockchain networks and exchanges has been rapid, with combined exchange and on-chain trading volume exceeding $10 billion within six months of launch.

The xStocks futures volume reached $1.2 billion in November 2025, while the three largest tickers recorded regular daily transfer volumes of $10 million to $20 million. The cumulative transfer volume surpassed $650 million since September 2025. Monthly active wallets interacting with xStock tokens reached approximately 175,000 in July 2025 before stabilizing between 80,000 and 100,000.