Tokenized platform xStocks brings new private shares fund on-chain

Tokenized equities platform xStocks has teamed up with alternative investment firm Fundrise to bring the newly public Fundrise Innovation Fund onchain, expanding access to late-stage private market company exposure.

The single tokenized asset VCXx is expected to go live on the xStocks platform in the coming days, according to a Friday announcement.

The move comes just days after the closed-end fund began trading on the New York Stock Exchange. Its portfolio includes private shares in tech companies such as Anthropic, Databricks and SpaceX.

In its first days of trading, the stock rose from its March 19 debut price of $31 to as high as $575 per share.

However, a critical report published on Thursday by short seller Citron Research said Fundrise Advisors LLC was the subject of SEC action in 2023 related to paid solicitation activities. Citron also called on regulators to examine whether the firm is currently compensating influencers to promote VCX.

The shares ended the week at $173, down almost 34% on Friday, before shedding another 5.9% in after-hours activity.

Fundrise Innovation Fund co-founder and CEO Ben Miller told CNBC on Friday that critics were mounting an unfounded smear campaign and defended the fund’s strategy and efforts to expand access to private tech companies.

**Related: **__Tokenized RWAs climb 13.5% despite $1T crypto market drawdown

_Source: _CNBC

Tokenized stocks top $1 billion in total value onchain

Tokenized stocks pushed past $1 billion in total value onchain earlier this month as investor interest grows in the fast-growing real-world asset (RWA) sector.

Data from RWA.xyz shows the value of tokenized equities climbing past the $1 billion mark, as platforms offering blockchain-based exposure to traditional stocks attract more investor trading and liquidity.

To be sure, much of that activity is concentrated among a small number of operators. RWA.xyz data shows that Ondo holds about 58% of the market, while tokenized stock products issued under the xStocks platform account for roughly 24%, forming an early duopoly in the sector.

Foresight Ventures in a March 10 report posited that the market is consolidating around these early leaders, citing regulatory barriers, liquidity advantages and differing tokenization models as key factors shaping competition in the sector.

Tokenized stocks crossed the $1 billion milestone. Source: RWA.xyz

**Magazine: **__China’s ‘50x’ blockchain boost, Alibaba-linked AI mines Bitcoin: Asia Express

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