Tokenized Equities - xStocksFi 提供真实代币化股票 [1] - 这些股票现在可以通过 @wallet_tg 访问 [1] Future of Finance - 行业认为这是金融未来道路上的又一步 [1] - 行业观察到采用率每月、每周、每天都在增长 [1]

Tokenized Equities Trading - Ondo Finance 旨在使代币化股票交易像加密货币一样顺畅 [1] - Ondo Finance 确保用户始终获得正确的价格 [1]

DeFi Platform Integration - Kamino Finance on Solana enables borrowing against tokenized equities [1] - The borrowing service is powered by xStocksFi [1] Tokenized Equities - Users can borrow against tokenized equities with a few clicks [1]

Group 1 - Robinhood Markets Inc. is launching a closed-end fund named Robinhood Ventures Fund I to provide US retail investors access to private companies [1][2] - The fund aims to address the issue of retail investors being excluded from investing in private companies, which has traditionally been accessible only to wealthy individuals and institutions [2] - The new fund will focus on a concentrated portfolio of private companies at the forefront of their industries, pending SEC approval for trading under the symbol RVI on the New York Stock Exchange [3] Group 2 - The initiative reflects Robinhood's recent efforts to enhance retail investors' access to private equity, including previous offerings of tokenized equities in Europe [2] - The CEO of Robinhood emphasized the importance of democratizing investment opportunities that were previously reserved for elite investors [2] - The fund will be available to retail investors through brokerages, including Robinhood and its competitors [3]

Core Insights - Robinhood Markets Inc. is launching a closed-end fund named Robinhood Ventures Fund I to provide US retail investors access to private companies [1][2] - The initiative aims to democratize investment opportunities that have traditionally been available only to wealthy individuals and institutions [2] - The fund will focus on a concentrated portfolio of private companies at the forefront of their industries, pending SEC approval for trading on the New York Stock Exchange under the symbol RVI [3] Company Strategy - Robinhood has prioritized giving retail investors access to private equity, which has been restricted in the past [2] - The firm previously announced plans to offer tokenized equities in Europe and provided a limited giveaway of equity tokens for companies like OpenAI and SpaceX [2] Market Context - Many companies are remaining private longer, leading to skyrocketing valuations and leaving retail investors with limited options to participate in this growth [2] - The CEO of Robinhood highlighted the unfairness of retail investors being locked out of private company investments for decades [2]

Tokenized Equities Market - 17 tokenized equities surpassed $1 million in 24-hour trading volume [1] - xStocks accounts for approximately 94% (16/17) of the tokenized equities that cleared $1 million+ in 24 hours [1] Market Share - One tokenized equity, other than xStocks, represents the remaining approximately 6% of the market [1]

Tokenized Equities Initiative - Coinbase 正在致力于将代币化股票引入平台 [1] - 公司正在思考如何实现这一目标 [1]

Group 1 - OpenAI has distanced itself from Robinhood's offering of tokenized shares, clarifying that these "OpenAI tokens" are not actual equity and that they did not partner with Robinhood [1] - OpenAI emphasized that any transfer of its equity requires approval from the company, which was not granted in this case, and advised users to exercise caution [1] - Robinhood launched the tokenized shares as part of a broader product showcase, which contributed to a surge in its stock price, reaching an all-time high above $100 [1] Group 2 - A Robinhood spokesperson stated that the tokens provide retail investors with indirect exposure to private markets, facilitated by Robinhood's ownership in a special purpose vehicle [2]

Business Expansion - Robinhood expands into tokenized equities [1] - Robinhood plans crypto perpetual futures [1] - Robinhood plans Layer 2 blockchain with Arbitrum [1]

Core Viewpoint - Coinbase is seeking approval from the SEC to offer "tokenized equities," which is a significant priority for the company [1][4]. Group 1: Tokenized Equities Concept - Tokenizing equities involves converting company shares into digital tokens, allowing investors to hold tokens that represent ownership instead of the securities directly [2]. - Proponents argue that tokenized equities could lower trading costs, enable faster settlement, and allow for 24/7 trading [4]. Group 2: Regulatory Challenges - Currently, tokenized equities are not available for trading in the U.S., with firms like Kraken experimenting with the concept in select markets outside the U.S. [6]. - To offer tokenized equities in the U.S., Coinbase would need a "no action letter" or exemptive relief from the SEC, which would prevent enforcement actions against the company [7][10]. - The SEC has previously sued Coinbase for operating as an unregistered broker-dealer, but this case was dropped under the Trump administration [9][14]. Group 3: Market Implications - If granted approval, Coinbase could offer stock trading via blockchain technology, positioning itself against retail brokerages like Robinhood and Charles Schwab, potentially opening a new business segment [12][15]. - The current political climate, with Trump appointing industry-friendly regulators, may favor the approval of such initiatives, as seen by the favorable market reaction to cryptocurrencies [13].