PANews: Custody of underlying assets for tokenized US stocks is concentrated at Alpaca, four institutions petition the SEC
BIBIBI
AT A GLANCE
The material states that over 91% of the underlying stocks of tokenized U.S. equities are held in concentrated custody at Alpaca, and mentions that four institutions have petitioned the SEC to advance rule modernization.
Article
The "monopolist" behind $4600000000 in tokenized US stocks: 91% of the assets are actually custodied at the same company?
Tokenized US stocks have reached a scale of 4600000000 USD, of which 4170000000 (over 91%) of the underlying real stocks are concentrated in custody at US broker Alpaca, with Binance bStocks, Ondo, Robinhood and others all integrated. Four institutions including Figure and Securitize jointly petitioned the SEC to promote modernization of transfer agent rules.
The materials state that the scale of tokenized U.S. stocks has reached 4600000000 USD, of which 4170000000 USD, accounting for over 91%, of the underlying real stocks are custodied by U.S. broker Alpaca.
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The materials state that Binance bStocks, Ondo, Robinhood, and others have all integrated Alpaca.
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The materials state that four institutions, including Figure and Securitize, jointly petitioned the SEC to promote the modernization of transfer agent rules.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This material focuses on who holds the underlying real stocks behind tokenized U.S. equities, rather than merely looking at which platforms offer related products. According to the material, multiple platforms connect to the same custodian; additionally, four institutions have submitted petitions for rule modernization, but the material does not state the outcome of these petitions.
Why it matters to readers
The materials highlight custody concentration and demands for rule reforms, warranting further verification of the underlying stock custody arrangements, as well as the specific content and progress of the petition.
When reading, you should distinguish between the platform that provides the product and the institution that holds the underlying shares, and you should not interpret the filing of a petition as meaning that the rules have already changed.
Risks and unknowns
The materials do not provide the statistical time period, statistical scope, or raw data for the scale and hosting share; the relevant figures remain to be verified.
The materials do not specify the specific arrangements for each platform's integration with Alpaca, nor do they provide a custody agreement.
The four petitioning organizations explicitly named only Figure and Securitize, while the other two remained unnamed.
The materials did not provide the petition document, the specific content of the rule changes, or the SEC response.
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The "monopolist" in the title is a qualitative characterization, and whether it constitutes a monopoly cannot be confirmed based on the materials alone.
Related concepts
Tokenized US stocks
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