bitget, the world’s largest universal exchange (UEX), was featured in a new report by Block Scholes, a leading digital asset analytics and research firm. The report examines the rapid growth of the tokenized equity market and the evolving role of exchanges as a bridge between traditional financial markets and on-chain infrastructure.
According to the report Block ScholesTokenized securities are increasingly being used as an entry point into global markets, with platforms like Bitget playing an increasingly important role in providing liquidity, price guidance, and seamless trade execution.
The report notes that the tokenized asset market, long centered primarily around stablecoins, is entering a new phase of growth, driven by tokenized shares and ETF.
Instruments tracking the S&P 500, major US stocks, and the technology sector have shown significant growth in demand since the third quarter of 2025. This is driven by improved liquidity, narrowing spreads, and growing participation from both retail and institutional investors. This trend reflects a broader demand for 24-hour markets, not limited to traditional trading sessions.
Block Scholes data shows that tokenized stocks tend to closely track their off-chain counterparts during core market hours, with intraday spreads remaining within relatively tight ranges. Price divergences are more likely to occur at night or on weekends, when core markets are closed and token issuance and redemption operations are suspended. This highlights both the potential and structural features of 24/7 on-chain trading. Nevertheless, the increasing stability of pricing during core trading hours indicates the rapid maturation of market infrastructure.
At the center of this transition is Bitget’s Universal Exchange model. UEX brings together crypto assets, stablecoins, and tokenized traditional financial instruments in a single trading space, eliminating the need for separate brokerage accounts and disparate platforms. The integration of tokenized securities and ETF Along with spot and derivatives markets, it allows users to manage and trade a wide range of assets through a single interface, including digital assets such as stablecoins.
The report also highlights that exchanges with integrated infrastructure and deep liquidity are best positioned to support the next phase of tokenized equity growth, with Bitget’s activity serving as a prime example of this trend.
«Tokenization only works when access is easy and markets are liquid. Our focus at UEX is to make real-world asset trading as convenient and seamless as cryptocurrency trading, while maintaining the transparency and speed that digital market users expect,» Bitget CEO Gracie Chen commented on the report’s findings.
The study also points to a convergence in user behavior: the vast majority of traders working with tokenized securities already own crypto assets. This suggests that demand is primarily driven by existing crypto market participants expanding their exposure, rather than by entirely new audiences. This makes exchanges a natural gateway for tokenized real-world assets (RWAs), especially given institutional interest in on-chain settlements and custody solutions.
«Tokenized asset volumes grew exponentially in 2025, driven by the US administration’s pro-cryptocurrency policy and growing institutional participation. Throughout the year, we at Block Scholes consistently emphasized that stablecoins were the first step toward on-chain tokenization. «The next stage, which we believe will be the key narrative of 2026, is the tokenization of equities and commodities in the traditional financial world,» noted Block Scholes analyst Tabib Rahman.
Bitget has already taken the first steps in this direction through UEX, providing a single platform for trading stocks and ETF from Ondo Finance and xStocks, which are managed and stored in Bitget Wallet. However, the market is still in its early stages: tokenized assets closely follow off-chain markets during their trading hours, while spreads remain somewhat wider outside of these hours. This paves the way for further growth in the tokenization of real assets in 2026.
The report concludes that as tokenized assets expand beyond stablecoins to include equities, treasuries, and index products, the market remains in its infancy but is becoming increasingly scalable. 24/7 access, growing liquidity and unified portfolio management demonstrate how Bitget’s evolution into a Universal Exchange is changing the way we access global markets, bringing digital and traditional finance closer together.
The full text of the report can be found at link.
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