Nvidia · Apple · Coinbase · Microsoft · CryptoSlate
Crypto’s killer app may be selling stocks after its own tokens faltered retail
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
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A Delphi Consulting analysis of 652 CEX listings from January 2025 onward found that a user buying every new token across Binance, Bybit, Coinbase, Gate.io, and Kraken would have kept roughly 50 cents on the dollar.
Key facts
- Tokenized stocks across all platforms held $1.48 billion in distributed value as of June 1, up 39% over 30 days, with $4.2 billion in monthly transfer volume
- The same report projects that crypto exchanges could channel $2 trillion in incremental capital and nearly 300 million new users into global equity markets by 2031 under a base case, rising to $5
- Some AI-cycle stocks traded above $1,000 per share during periods when average monthly wages in parts of Africa and Southern Asia were below $300, making single-share ownership inaccessible
- Robinhood EU lists more than 2,000 Stock Tokens linked to Nvidia, Microsoft, Apple, and the Vanguard S&P 500, with minimums of €1 and 24/5 access
Summary
01 Crypto exchanges are shifting from failed new-token launches to tokenized stocks and ETFs across Kraken, Robinhood EU, Coinbase, and others. 02 Delphi found 2025 token listings had a 12% win rate and a -82% median return, helping explain the pivot. 03 The open question is whether these products strengthen crypto rails or mainly route value to stablecoins, custodians, and exchanges. The win rate across all listings was 12%, 52% of tokens lost more than 80%, and the median return was -82%.