Nvidia Joins Crypto Rails as Tokenized Stocks Gain Momentum

Nvidia Corp (NASDAQ:NVDA), a Wall Street staple, is increasingly being traded like a cryptocurrency. Investors can now buy tokenized versions of the company's stock and even trade equity perpetuals on digital platforms. This convergence between traditional equities and crypto is happening at the 'distribution layer,' not the asset level, according to Alice Liu from CoinMarketCap.

The trend is clear: 1,851 tokenized-stock instruments are tracked by CoinMarketCap, with a combined market capitalization of $2.3 billion and daily trading volume of about $2 billion. Tokenized stocks turnover their entire market cap roughly 89% every day, far exceeding the numbers seen in Bitcoin, memes, or AI tokens.

Equity perpetuals are also on the rise, with their share of Hyperliquid's perpetual volume increasing from around 2% at the start of the year to about half. This shift is not just about tokenizing stocks; it's about giving investors access to 24/7 trading, fractional trading, and leverage, potentially reshaping how equities are traded altogether.