Tokenized equity · 451 underlyings · 625 tokens · 3 venues
Every tokenized version of a stock, priced against the real share.
A company can now reach you as several different tokens, from different issuers, on different chains — at different prices. This index puts them side by side for the same ticker, shows the gap to the last close of the actual share, and quotes what each venue publishes about fees, including when it publishes nothing.
Data timestamp 2026-10-20 20:40 UTC · prices from CoinGecko, closes from CNBC.
Kraken advertises 0% trading fee on xStocks bought with USD. On the same page it says a spread is built into the asset price for every transaction — and it does not publish that spread. Ondo publishes no fee at all: any difference between its quote and its own execution is kept by the issuer.
So this site measures what can be measured: the token price against the underlying close, per ticker, timestamped.
See the measured gaps →Largest tokenized positions
Ranked by combined market value of every issuer's token for that ticker.
| Ticker | Company | Versions | Token price | Share (last close) | Gap | Token mcap |
|---|---|---|---|---|---|---|
| MSTR | MicroStrategy | MSTRX · MSTRON · MSTR | $143.28 | $142.72 | +0.39% | $151.1m |
| SPY | SP500 | SPYX · SPYON · SPY | $774.74 | $769.05 | +0.74% | $115.1m |
| CRCL | Circle Internet Group | CRCLON · CRCL | $85.81 | $85.87 | -0.07% | $101.3m |
| TSLA | Tesla | TSLAX · TSLAON · TSLA | $374.24 | $373.71 | +0.14% | $90.7m |
| NVDA | NVIDIA | NVDAX · NVDAON · NVDA | $217.77 | $216.47 | +0.60% | $80.9m |
| QQQ | Invesco QQQ ETF | QQQX · QQQON · QQQ | $720.59 | $717.63 | +0.41% | $79.2m |
| SPCX | Space Exploration Technologies | SPCXX · SPCXON · SPCX | $151.04 | $147.79 | +2.20% | $71.1m |
| STRC | Strategy Stretch Preferred | STRCON · STRC | $105.07 | $98.71 | +6.44% | $61.3m |
| IVV | iShares Core S&P 500 ETF | IVVON | $774.35 | $772.35 | +0.26% | $60.4m |
| GOOGL | Alphabet Class A | GOOGLX · GOOGLON · GOOGL | $340.63 | $340.28 | +0.10% | $58.9m |
| MU | Micron Technology | MUON | $905.63 | $896.07 | +1.07% | $34.8m |
| HIMS | Hims & Hers Health | HIMSON · HIMS | $29.35 | $29.21 | +0.48% | $31.2m |
| INTC | Intel | INTCON · INTCX · INTC | $92.15 | $91.69 | +0.50% | $28.6m |
| SLV | iShares Silver Trust (Dinari Tokenized ETF) | SLVON · SLV | $52.22 | $52.12 | +0.19% | $24.4m |
Gap = token price ÷ last close of the underlying − 1. For total-return tokens (Ondo) it also contains reinvested dividends, so it is not a fee. Method.
Where you can buy, and what is published
Three issuers with live tokens, three distribution models.
| Venue | Headline fee | Cost inside the price | Min |
|---|---|---|---|
| Kraken Backed / xStocks |
0% when buying with USD | Yes — not published | €1 |
| Ondo Global Markets Ondo Global Markets |
Not published — inside the quote | Yes — not published | $1.00 |
| Dinari Dinari |
Not published — partner-set | Yes — not published | — |
Issuers behind the tokens
Who is the legal counterparty when you hold one of these.
| Issuer | Legal entity | Tokens indexed | Chains |
|---|---|---|---|
| Backed / xStocks | Backed Assets (JE) Limited | 56 | 10 |
| Ondo Global Markets | Ondo Global Markets (BVI) Limited | 380 | 4 |
| Dinari | Dinari Inc. | 189 | 6 |
Same ticker, more than one issuer
These are the tickers where the choice is real: two or three tokens, different legal setups, different prices.
Start here
- What a tokenized stock is — and the four things it is not.
- The fee stack — headline fee, conversion, spread, and who keeps the difference.
- Dividends and withholding — why a token's price drifts from the share.
- Who is allowed to buy — the jurisdiction lists, as published.
- Cost calculator — a ticket size, and what is known versus unknown.
Every fee statement on this site carries the venue's own sentence and the date it was checked. If a venue has changed its terms, the page is wrong and we want to know: send the source and the page is republished with the diff.
Issuers and venues covered so far: Kraken, Ondo Global Markets, Dinari. Coverage gaps are listed on /method rather than filled with estimates.