Blockchain.com Expands On-Chain Stock Offerings as Tokenized Equities Grow

Blockchain.com is widening its tokenized real-world assets lineup through a partnership with Ondo Finance, adding 173 tokenized stocks and exchange-traded funds (ETFs) to its marketplace. The expansion takes Blockchain.com’s catalog of tokenized traditional assets to more than 430 offerings spanning Ethereum, Solana and BNB Chain.

In a Wednesday announcement, Blockchain.com said the newly listed products include tokenized exposure to private-company shares, actively managed ETFs, US Treasury-related offerings, and covered-call income strategies—highlighting SpaceX’s SPCX token among the additions. It also added themed baskets linked to areas such as AI infrastructure, energy, robotics, autonomous vehicles and quantum computing, alongside income-focused products from Global X and other issuers.

Key takeaways

• Blockchain.com expanded its tokenized stocks and ETF catalog by 173 items via Ondo Finance, bringing total offerings to 430+ across Ethereum, Solana and BNB Chain.
• The new list ranges from private-company shares and active ETFs to Treasuries and covered-call strategies, with SpaceX’s SPCX token called out by name.
• Blockchain.com says the assets are available immediately, using Ondo’s routing and liquidity infrastructure to support trading across all 173 listings at launch.
• Tokenized equities have accelerated this year: RWA.xyz data cited by the company shows distributed value is up to about $1.57 billion, roughly fivefold from around $330 million a year ago.
• Regulatory momentum for DeFi-style access to US equities has become a focal point after a US SEC proposal was described by Galaxy’s Alex Thorn as a potential “unlock” for tokenized stock trading.

Blockchain.com’s Ondo partnership grows across major chains

Blockchain.com’s latest move reinforces its strategy of bringing institutional-style market access into crypto rails. The firm positioned the onboarding as an “immediate” availability update, stating that Ondo’s routing and liquidity infrastructure supports trading across all 173 new tokenized assets from the time of launch.

Ondo is described by market-data provider RWA.xyz as one of the larger tokenization platforms by asset value. According to RWA.xyz figures cited in the announcement, Ondo has roughly $3.8 billion in distributed assets across 267 tokenized products. While those figures are platform-level totals rather than limited to equities, they underscore the scale of the infrastructure now being leveraged for broad catalog expansion.

What’s new in the 173-token slate

While tokenized equities have largely focused on making public-company shares transferable on-chain, Blockchain.com’s additions widen the scope of what investors can hold in token form. Among the specific categories it highlighted are:

• Private company shares, offering on-chain exposure beyond traditional publicly listed equities.
• Active ETF exposure, indicating continued demand for tokenized access to strategies managed by ETF issuers.
• US Treasury products, bringing fixed-income exposure into the same trading ecosystem.
• Covered-call strategies, which aim to generate income by holding an underlying asset while selling call options.
• Themed baskets tied to sectors such as AI infrastructure, energy, robotics, autonomous vehicles and quantum computing.

Blockchain.com singled out SpaceX’s SPCX token as one of the additions. That comes as tokenized SpaceX-related products have already drawn significant retail and institutional attention, even as the sector has encountered execution problems in some launches.

Tokenized equities keep climbing—though competition is intensifying

RWA.xyz data cited alongside Blockchain.com’s announcement suggests the tokenized equities segment has been gaining traction. The report referenced by the article places tokenized equities at approximately $1.57 billion in distributed value, up nearly fivefold from about $330 million a year ago.

The same data set referenced the variety of assets now circulating on-chain, including tokenized shares of public companies, ETFs, and private-firm equity. It also mentioned several large holdings by value, naming Strategy, Circle, Nvidia and Exodus shares as examples.

That growth has also attracted more rivals. Earlier this month, Exodus launched a marketplace for more than 200 tokenized stocks, ETFs and other real-world assets, also through a partnership with Ondo Finance—illustrating how Ondo-linked distribution is becoming a common foundation for new onchain “tradfi-like” trading experiences.

Beyond dedicated tokenized stock platforms, mainstream crypto venues have also pursued high-profile tokenized equity themes. Binance, for instance, said its tokenized IPO offering tied to SpaceX drew more than $557 million in USDC deposits from users seeking exposure to the listing.

SpaceX hype meets real-world frictions—and regulatory change could matter

Alongside growing interest, the SpaceX IPO storyline revealed operational and allocation challenges that have periodically constrained tokenized offerings. According to the earlier coverage referenced in the article, several exchanges—including Binance, Bybit, Bitget Wallet and MEXC—were reported to have canceled tokenized SpaceX offerings and refunded users after failing to secure share allocations. Those products, the article notes, relied on Kraken-owned xStocks for distribution and settlement infrastructure.

The reporting also pointed to the IPO’s reported oversubscription, citing Reuters coverage that demand for a $75 billion offering had reportedly reached more than four times that level and attracted more than $250 billion in investor demand. For tokenization firms and their partners, these dynamics highlight a recurring tension: onchain distribution can be fast, but underlying access to shares can remain constrained by traditional market mechanics.

At the same time, regulatory discussions may shape how these products evolve. The article references a US Securities and Exchange Commission proposal described by Galaxy head of research Alex Thorn as “one of the biggest unlocks yet for tokenized stocks.” Thorn’s comments were tied to the SEC’s proposal to rescind two National Market System rules, which he argued would remove “one of the biggest structural barriers to tokenized US equities trading in DeFi.” The linked SEC proposal appears to frame the issue as a rule change within market structure regulation, though the ultimate impact for onchain trading will depend on how the SEC proceeds and what replacement frameworks—if any—follow.

For investors using onchain equities platforms, the immediate practical takeaway is straightforward: more tokenized stock and ETF listings are now arriving through established infrastructure, but the sector’s next test will be whether liquidity, settlement reliability and regulatory clarity can keep pace with demand. Watch for how exchanges and wallet providers handle upcoming high-profile offerings—especially those that require constrained allocations—and for any follow-through from the SEC proposals that could expand the ways tokenized equities can be integrated into DeFi trading.