95% of Bitget’s Tokenized Stock Traders Also Hold Crypto, Underscoring Market Convergence: Report

Bitget has released new research detailing the transition of tokenized real-world assets from experimental projects into a scalable trading category. For fintech professionals, this shift signals the maturation of centralized exchanges as the primary access layer between traditional finance and crypto markets, driven by the demand for 24/7 liquidity in global equities.

What was announced

The report identifies a significant evolution in the tokenized asset landscape, which has historically been dominated by stablecoins. Since Q3 2025, there has been a measurable increase in the adoption of tokenized equities and ETFs, specifically those tracking the S&P 500, major U.S. technology stocks, and other blue-chip equities. This growth is supported by improved liquidity and tighter spreads, as retail and institutional investors seek "always-on" market access that bypasses traditional trading hour restrictions.

Data shows that while tokenized stocks track their off-chain counterparts closely during regular market hours, price deviations often widen during weekends or overnight when underlying markets are closed and minting or redemption processes pause. Despite these structural differences, the consistency of pricing during core sessions suggests a maturing infrastructure.

Central to this transition is Bitget’s Universal Exchange (UEX) model. This platform integrates crypto assets, stablecoins, and tokenized traditional instruments into a single interface. By hosting products from providers like Ondo Finance and xStocks, the UEX allows users to fund trades directly with digital assets and manage a unified portfolio without needing separate brokerage accounts. The report notes that the majority of participants are existing crypto holders extending their exposure. Analysts observing the market noted that asset volume grew exponentially in 2025, coinciding with a crypto-friendly U.S. administration. The research suggests that stablecoins served as the initial step in on-chain tokenization, partly due to their role in advancing various fiscal goals of the Trump Administration, setting the stage for tokenized stocks and commodities to become a major narrative in 2026.

The companies involved

Bitget operates as a centralized exchange that has recently pivoted toward a "Universal Exchange" (UEX) model, describing itself as the world’s largest in this category. This framework is designed to bridge the gap between decentralized digital assets and traditional financial instruments by consolidating spot, derivatives, and tokenized real-world assets into one environment. The platform aims to eliminate the fragmentation typically associated with trading across different asset classes by allowing users to manage their holdings through a single interface, utilizing the Bitget Wallet for asset management and custody.

In the current market, the company positions itself as an access layer for tokenized products, facilitating the trading of assets that were previously siloed within traditional brokerages. By integrating third-party tokenized offerings, Bitget is attempting to capture the growing demand for on-chain settlement and 24/7 market availability. This approach relies on the use of stablecoins as a foundational layer for liquidity, reflecting a broader industry trend of utilizing blockchain technology to improve the efficiency of asset transfer and custody. The exchange's focus on a unified portfolio management system reflects its role in the convergence of crypto-native trading and traditional finance, moving beyond niche experimentation into a scalable trading category. This transition highlights the exchange's effort to simplify access to liquid markets for a global user base.

What this means

The move toward tokenizing equities and ETFs on centralized platforms puts significant pressure on traditional brokerages that remain tethered to legacy trading hours. While the "weekend gap" in pricing remains a structural hurdle, the narrowing of spreads during core hours suggests that the technical barriers to real-world asset adoption are falling. The real test for the sector will be whether these platforms can maintain liquidity during periods of high volatility when the underlying traditional markets are closed. If centralized exchanges successfully establish themselves as the primary gateway for tokenized assets, they may effectively disintermediate traditional retail brokers for a new generation of digital-first investors. This shift also raises questions about regulatory oversight as traditional securities move onto 24/7 global rails.