Kraken's xStocks hit $25 billion milestone
Kraken’s xStocks – it’s tokenized equity alternative – has surpassed $25 billion in lifetime transaction volume. Kraken, which is in the process of acquiring Backed (the issuer behind xStocks), claims the largest market share of tokenized equities with over 80,000 unique holders and $225 million in assets under management. The broader tokenized stock market now holds roughly $940 million in value with $2.34 billion in monthly trading volume, signaling growing investor appetite for onchain equity trading. Read more →
Institutional ownership keeps creeping higher
According to new research from Coinbase’s David Duong and Colin Basco, institutions now hold 29.4% of all outstanding ETF shares, up from roughly 24% at the end of Q1 2025. The mix is shifting too. Investment advisors now make up ~53% of institutional ETF holdings (or 15.5% of all ETF shares), a slight uptick from the 50.4% one year ago. This isn’t radical growth by any means, but keep in mind that policy gates are still coming down. Morgan Stanley, for example, removed its $1.5 million net worth requirement only 4 months ago.
Down Goes Tariffs, Up Goes Crypto & Equities
The U.S. Supreme Court today ruled that President Trump lacked authority to impose sweeping global tariffs. As a result, crypto and equities just got a quick pop. In the absence of “sweeping” tariff revenues (smaller tariffs that Trump has enacted under different laws remain standing), money printing and debasement should technically accelerate and that of course slightly explains the quick rally. Read more →
📥️ Want to advertise in CoinSnacks? Learn More