category.tokenised_equities.label
category.tokenised_equities.promise
Audit
Infrastructure
Methodology
2026.04.0
published 2026-04-27
Providers tracked
570+
across 62 categories
Last verified
2026-08-05
editorial freshness
Editorial board
4
audit-log live
Decision guide
What matters most before choosing in this category
The best tokenised equity depends on what you actually own and against whom. A registered fund share, a feeder interest and an SPV note are not equivalent, and a branded manager's name on the wrapper is not evidence that the manager stands behind it. Fees are scored relatively rather than absolutely — the question is what the same strategy costs untokenised, and a tokenised share class charging materially more than the identical manager's own ETF is the finding rather than a footnote.
Key question
Does this token convey a claim on a real share held in custody, or is it a synthetic tracker?
Key question
Can you exit at the share's value, and are dividends and corporate actions passed through?
Key question
Is there a redemption path at NAV, or only a secondary market at whatever it will bear?
Current editor lead
Dinari dShares
SEC-registered transfer agent; 724 tokenized stocks, now open to US investors
Data checked Aug 2026
SEC-registered transfer agent; 724 tokenized stocks, now open to US investors. Strongest on who may legally buy and hold (9/10): On 4 August 2026 Dinari launched 724 tokenized US stocks — including every S&P 500 constituent — to eligible US investors via USDC on Ethereum, Arbitrum, Base and Avalanche, with Circle, Privy, Para and Monaco as partners. Also live in 85+ non-US jurisdictions. Canada is unsupported pending licensing; roughly 30… Weakest on all-in cost, and whether it is published (6/10): Disclosure is the best in the category — a full fee table broken out by network and settlement stablecoin. The level is not: a $500 buy on Ethereum with USDC costs $1 + 0.50% = 0.70%, and every dividend is docked 5% before distribution. That dividend haircut has no equivalent at any conventional broker; on a 2%… Published price: Per-order issuance fee: Ethereum + USD+ = "$1 + 0.25%"; Ethereum + USDC/USDT = "$1 + 0.50%"; L2 + USD+ = "$0.20 + 0.25%"; L2 + USDC/USDT/USDB = "$0.20 + 0.50%". Network blockchain fees are additional. Dividends carry a "5% fee" — "dividend fees and expected…
Best for
Who may legally buy and hold — 9/10Getting out at the share's value — 8/10
Main tradeoff
Dinari's own compliance page at docs.dinari.com/docs/restrictions.md still read, on 5 Aug 2026, that dShares "may not be offered or sold in the United States or to a U.S. person, absent registration or an applicable exemption" — one day after the company announced US availability. Until that page is reconciled, a US buyer is relying on a press release over the binding restrictions document. Separately, Dinari and Ondo both depend on Alpaca Markets as the executing broker.
Verify before signup
Per-order issuance fee: Ethereum + USD+ = "$1 + 0.25%"; Ethereum + USDC/USDT = "$1 + 0.50%"; L2 + USD+ = "$0.20 + 0.25%"; L2 + USDC/USDT/USDB = "$0.20 + 0.50%". Network blockchain fees are additional. Dividends carry a "5% fee" — "dividend fees and expected network fees are taken before distribution."
Weighted criteria
What the token is a claim on35%
Who may legally buy and hold25%
Getting out at the share's value20%
All-in cost, and whether it is published20%
Leading options
Shared shortlist for this category
These providers are pulled from the same category comparison catalog used in validation, so the category page, comparison page, and provider reviews stay aligned.
Dinari dShares
SEC-registered transfer agent; 724 tokenized stocks, now open to US investors
Editor lead
SEC-registered transfer agent; 724 tokenized stocks, now open to US investors. Strongest on who may legally buy and hold (9/10): On 4 August 2026 Dinari launched 724 tokenized US stocks — including every S&P 500 constituent — to eligible US investors via USDC on Ethereum, Arbitrum, Base and Avalanche, with Circle, Privy, Para and Monaco as partners. Also live in 85+ non-US jurisdictions. Canada is unsupported pending licensing; roughly 30… Weakest on all-in cost, and whether it is published (6/10): Disclosure is the best in the category — a full fee table broken out by network and settlement stablecoin. The level is not: a $500 buy on Ethereum with USDC costs $1 + 0.50% = 0.70%, and every dividend is docked 5% before distribution. That dividend haircut has no equivalent at any conventional broker; on a 2%… Published price: Per-order issuance fee: Ethereum + USD+ = "$1 + 0.25%"; Ethereum + USDC/USDT = "$1 + 0.50%"; L2 + USD+ = "$0.20 + 0.25%"; L2 + USDC/USDT/USDB = "$0.20 + 0.50%". Network blockchain fees are additional. Dividends carry a "5% fee" — "dividend fees and expected…
Best for: Who may legally buy and hold — 9/10
Superstate Opening Bell
Transfer-agent-recorded registered shares issued natively onchain; issuer opt-in only
Transfer-agent-recorded registered shares issued natively onchain; issuer opt-in only. Strongest on what the token is a claim on (10/10): The page states without hedging: "Tokenized shares are not derivatives, wrappers, or new share classes." Superstate acts as transfer agent, recording ownership changes onchain in real time, so the token is the registered share on the issuer's books. Live names include Forward Industries (FWDI), Exodus (EXOD), Solana… Weakest on all-in cost, and whether it is published (3/10): "A fixed, predictable administrative fee" is exactly the unquantified formulation this criterion penalises — no rate, no basis, and no investor-facing cost disclosure at all. The docs subdomain also failed to return the tokenized-equities page on request. Published price: Issuers pay "a fixed, predictable administrative fee" for Direct Issuance Programs; no rate is published and no investor-side fee schedule is given.
Best for: What the token is a claim on — 10/10
Securitize
SEC-registered transfer agent, broker-dealer and ATS; tokenized its own NYSE stock
SEC-registered transfer agent, broker-dealer and ATS; tokenized its own NYSE stock. Strongest on what the token is a claim on (9/10): Tokenized SECZ is "the same common stock trading on the NYSE, not a separate share class" — issuer-sponsored, recorded by Securitize Transfer Agent, LLC (SEC-registered), launched on Avalanche and Solana on 2 July 2026 alongside the NYSE listing. Securitize is the only vertically integrated provider with… Weakest on all-in cost, and whether it is published (2/10): No investor fee schedule is published on any Securitize page reachable programmatically — securitize.io/markets returns HTTP 404 and the SECZ tokenization release states no fees. A buyer cannot determine the cost of transacting before onboarding. Published price: not published — the 2 July 2026 tokenized-SECZ announcement contains no investor fee information, and securitize.io/markets returns HTTP 404.
Best for: What the token is a claim on — 9/10
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Methodology
How this category is reviewed
Reviewed on what the token is a claim on, who may legally buy and hold it, whether you can exit at the share's value, and the all-in published cost.
Reviewed on: What the token is a claim on, Who may legally buy and hold, Getting out at the share's value, All-in cost, and whether it is published.
This page is a maintained category surface, not a static marketing block. Review freshness, provider positioning, and recommendation logic should stay consistent with quiz and provider pages.
Frequently asked
Questions people ask before choosing tokenised equities
REVIEWEDApr 2026METHOD4 criteriaCATEGORYtokenised_equities
Not financial advice · For informational purposes only · Always do your own research
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