NVIDIA-Linked Token Reaches $20.53 Million Market Cap
The NVIDIA (NVDA) linked token rNVDA has recorded an on-chain market capitalization of $20.53 million (approximately 2.9 billion KRW) on Arbitrum One. There is an increasing number of cases in the tokenized stock market that require consideration of actual demand and rights structure as the exposure of U.S. stock prices is being transferred to blockchain assets.
According to DefiLlama on the 15th, the token price of rNVDA on the Arbitrum One Real World Assets (RWA) dashboard was reported at $224.7, with an on-chain market cap of $20.53 million. Crypto Briefing reported that the market cap of rNVDA has increased by approximately $17.5 million to $18 million (around 2.48 billion to 2.55 billion KRW) over the past 30 days. The figures from the on-chain dashboard and internal exchange calculations may differ due to varying standards, so the numbers may not match exactly for the same asset.
rNVDA is an NVIDIA-linked rToken issued by the Reality Protocol within the Bitget ecosystem. Bitget announced on May 26 that it would provide tokenized U.S. stocks and exchange-traded funds (ETFs) with the launch of Reality. Bitget explained that each rToken is backed 1:1 by physical stocks held by a U.S. broker-dealer registered with the Financial Industry Regulatory Authority (FINRA) and protected by the Securities Investor Protection Corporation (SIPC).
According to Bitget's supporting documents, rTokens have an 'r' prefix before the asset name, using rNVDA as an example. The same document stated that holding rTokens does not imply direct ownership of stocks or voting rights. The Reality-based rTokens support trading 24/5, including pre-market, regular market, after-hours, and night sessions, but access may be restricted on weekends and U.S. holidays.
Bitget revealed on its official blog that rTokens reached an operating asset of $114 million (approximately 161.2 billion KRW) just five weeks after their launch. During the same period, the cumulative trading volume was $671.37 million (approximately 950.1 billion KRW), with an average daily trading volume of $19.75 million (approximately 27.9 billion KRW). rNVDA accounted for 13.38% of the cumulative trading volume, ranking among the top initial demand assets after rSPCX and rCSCO.
Bitget subsequently added 25 stock-linked altcoins, increasing the options to 660. This trend aims to attract demand for access to various U.S. stocks and ETF prices into the exchange accounts, not just NVIDIA. However, the internal operating assets and trading volumes are indicators within the Bitget ecosystem and should be distinguished from the overall demand in the tokenized stock market.
The significance of rNVDA lies in the fact that it is a tokenized asset linked to NVIDIA's price, rather than the NVIDIA stock itself. For Korean investors, the key point is not only the extended access time to U.S. stocks. The question is whether the structure, which combines stock exposure with USDT payments, on-chain custody, and fund management within exchange accounts, can establish itself as a real financial product.
Alpaca stated that Bitget utilizes the Alpaca infrastructure to provide access to tokenized U.S. stocks and ETFs. This indicates that rTokens are designed as products that incorporate custody and settlement infrastructure, rather than merely price display tokens. However, this structure does not necessarily mean that it guarantees rights similar to traditional stocks.
The U.S. Securities and Exchange Commission (SEC) explained in a statement on January 28 that tokenized securities can be categorized into issuer-led and third-party-led structures. The SEC noted that the rights, obligations, and benefits of holders may differ from those of the underlying securities depending on the tokenization structure. Reuters also reported that some tokenized stocks may not provide traditional shareholder rights or dividend rights.
Tokenized stocks typically implement exposure to the underlying asset price in the form of blockchain tokens. Depending on the structure, they can be backed by physical stocks or synthetically track prices. The rights that investors actually hold vary based on the issuing entity, custody method, terms, and regulatory jurisdiction.
Industry perspectives are mixed. Bitget and Alpaca believe that tokenized stocks can expand trading hours, enable faster settlements, enhance USDT-based fund management, and increase collateral utilization. In contrast, regulatory experts and traditional finance sectors raise concerns about investor protection and market stability.
This difference is also significant for domestic investors. Even if they are both NVIDIA-linked tokens, differences in the issuing entity, collateral method, and scope of rights can lead to variations in risk and investor protection mechanisms. It is essential to verify whether tokenized stocks are products that replace U.S. stock accounts or separate assets that provide price exposure within the exchange through terms and custody structures.
The increase in rNVDA's market cap indicates growing interest in tokenized stocks. However, it is crucial to differentiate whether this interest stems from long-term holding demand or short-term trading demand. The current confirmed fact is that rNVDA has been recorded as an on-chain asset worth $20.53 million on Arbitrum One and ranks among the top initial trading demand assets according to Bitget's internal data.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Oil Crisis: 5 Reasons Why the Surge Won't Stop

ESMA Warns of Growing Links Between Crypto and Finance

How to Calculate Bitcoin Profit for Beginners Easily - Fintech World
![[Full Text] Solana Foundation: "Korean STOs Should Start Within Regulations and Expand Globally"](/public-static/10_5acc261b9b.png?format=avif)
[Full Text] Solana Foundation: "Korean STOs Should Start Within Regulations and Expand Globally"

Can Bitcoin Be Bought with Rp50,000? Here's How - Fintech World

Anthropic: The Report That Implicates Claude, Between Missiles, Espionage in Mali, and Chinese Pillaging

JPMorgan Bullish on Meta: Muse, Model API, and Subscriptions Support $820 Target Price

Russia to require tax IDs for opening crypto depository accounts

Mr&强 Summarizes the Latest Progress of the TermiX Project

How to Raise iPhone Prices Without Hurting Sales? JPMorgan Analyzes Apple's 'Installment Strategy'

Robinhood is Trading Fruit Flies, Solana is Trading Cats

Wells Fargo CEO Claims the Clarity Act May Harm the Financial System?

What is Fibonacci retracement? Trading Minute

Ukraine has lost half of its warehouses: co-owner of the chain talks about the retail situation and risks of shortages

Bitcoin Adoption Boosts Sales by 19%! Iconic U.S. Restaurant "Steak 'n Shake" Achieves Double-Digit Growth

RWA Perpetual Futures Trading Volume Reaches $120 Billion, Increasing 120 Times in One Year

What AI Trading Needs is a Managed Workflow, Not Just Answers

Teacher's Day: How Much Teachers Earn in Argentina and Which Province Pays the Best

BIT Trust White Paper 2.0 Released... Presenting a Secure, Compliant, and Verifiable Trust System

Kaia Secures Wallet and Payment Network in Japan for Stablecoin Usage

OpenAI Launches Financial Services-Specific ChatGPT, Replacing 100-Hour Wall Street Banker Tasks

Variational Swap Records $2.8 Billion in Trading Volume Within a Week of Launch

Oracle Surpasses Revenue with AI: What Explains the Turnaround

David Schwartz Predicts XRP Could Overtake Bitcoin by Market Cap

US Clarity Bill: Senator Cynthia Lummis Publishes Revised Version Before Vote

Solana Launches Prediction Market Amid Technical Hurdles

Solana Breaks Records, But Its Daily Revenues Make the Difference

Iran Rebuilds Missile Power... "Capable of Producing Hundreds to Thousands" - WSJ

DZI Linked to an Offer of 3.1 Million Identity Records








