Bitget on Tuesday announced the launch of Reality, a regulated tokenization platform that brings U.S. equities and ETFs onto the blockchain. The platform issues rTokens, each backed 1:1 by real shares held through FINRA-registered and SIPC-protected broker-dealers linked to Nasdaq and the NYSE.
rTokens: 1:1 Backed Tokenized Stocks and ETFs
According to Bitget, Reality will initially offer tokenized exposure to a selection of U.S. stocks and ETFs, later expanding to bonds, Treasuries, and other assets. Users can mint and redeem rTokens with stablecoins on a 24/5 basis, and the tokens can be used as collateral across DeFi protocols. Bitget CEO Gracy Chen expects tokenized assets to represent nearly 10% of global financial assets by 2030, driven by stablecoin adoption, faster settlement, and growing interest from exchanges and financial institutions.
Reality addresses long-standing issues in the tokenized asset market, particularly limited liquidity and inconsistent dividend handling. The company said rToken dividend payouts will be distributed directly in stablecoins rather than being reinvested into token prices. Reality has undergone independent smart contract audits and reserve attestations by accounting firm The Network Firm, maintaining reserve ratios above 100% for all issued rTokens.
Stablecoin Dividends and DeFi Interoperability
“Reality aims to make the future of finance the default, not the exception. Its vision is to dissolve the old boundaries between traditional markets and crypto, turning tokenized assets into the natural, invisible layer of a single, always‑on, borderless financial system,” Reality wrote in a May 26 X post.
Bitget's tokenized product lineup now covers over 100 tokenized stocks, ETFs, commodities, gold products, and forex instruments.
SpaceX Pre-IPO Perpetual Contract
Alongside Reality, Bitget has expanded its tokenized trading business. Last month, the exchange launched IPO Prime, a subscription-based market for tokenized allocations in pre-listing private companies. More recently, Bitget introduced SPCXUSDT, a pre-IPO perpetual contract tied to expectations around a potential SpaceX listing. The derivative allows traders to speculate on SpaceX valuation movements without holding equity, supports up to 5x leverage, charges funding fees every eight hours, settles in USDT, and trades around the clock.
According to previous reports, SpaceX could target a Nasdaq listing as early as June 12 under the ticker SPCX, with a possible valuation of $1.75 trillion and a raise of $75 billion. SpaceX has not officially confirmed these plans.
Wall Street Eyes Tokenization Growth
Traditional finance institutions are increasingly discussing tokenization. Last month, JPMorgan’s global head of ETF product, Ciarán Fitzpatrick, said tokenization could transform not only ETFs but the broader funds industry. ARK Invest projected tokenized assets could exceed $11 trillion by 2030. Data from RWA.xyz currently values the real-world asset tokenization sector at approximately $34.1 billion, including roughly $15.3 billion in tokenized U.S. Treasury products.