Analyst: $3.21B tokenized equities give no ownership rights
- —Tokenized equity price exposure is $3.21B; perpetual futures open interest is $3.01B
- —Robinhood Europe charges a 0.1% conversion fee and calls its tokens derivative contracts
- —xStocks are 1:1 collateralized but grant no voting rights or guaranteed recovery on default
- —SEC staff in January 2026 split tokenized securities into issuer-led and third-party types
Why it matters: Investors should separate price exposure from actual ownership: rights, votes and collateral income depend on each product's structure.
Source: TokenPost