Bitget, the world’s largest universal exchange (UEX), has been featured in a new report by Block Scholes, a leading digital asset analytics and research firm, that explores the rapid growth of the tokenized stock market and the changing role of exchanges, which are increasingly acting as a bridge between traditional financial markets and on-chain infrastructure.
Bitget, the world’s largest universal exchange (UEX), has been featured in a new report by Block Scholes, a leading digital asset analytics and research firm, that explores the rapid growth of the tokenized stock market and the changing role of exchanges, which are increasingly acting as a bridge between traditional financial markets and on-chain infrastructure.
According to the Block Scholes report, tokenized stocks are increasingly being used as an entry point into global markets, with platforms like Bitget playing an increasingly important role in providing liquidity, forming price benchmarks, and seamless trade execution.
Analysts note that the tokenized asset market, which has long been focused mainly around stablecoins, is entering a new phase of growth. Tokenized stocks and ETFs are becoming the main drivers. Instruments tracking the S&P 500 index, large US companies and the technology sector have shown a noticeable increase in demand since the third quarter of 2025. This is facilitated by improved liquidity, narrowing spreads and increased participation of both retail and institutional investors. Such dynamics reflect a broader demand for 24-hour markets, not limited to traditional trading sessions.
The report shows that during the operation of the underlying markets, tokenized stocks tend to be closely correlated with their off-chain counterparts, and intraday spreads remain relatively narrow. Price divergences are more likely to occur at night or on weekends, when the underlying markets are closed and token issuance and redemption transactions are suspended. This highlights both the potential and structural features of 24-hour on-chain trading. At the same time, the increasing stability of pricing during core trading hours indicates a rapid maturation of the market infrastructure.
At the heart 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 stocks and ETFs alongside spot and derivatives markets allows users to manage a broad portfolio of assets through a single interface, leveraging digital assets, including stablecoins. The report highlights that exchanges with integrated infrastructure and deep liquidity are best positioned to support the next phase of tokenized stocks’ growth, and Bitget’s operations are a prime example of this trend.
Commenting on the report’s findings, Bitget CEO Gracie Chen noted:
«Tokenization only works when access is easy and markets are liquid. Our focus at UEX is to make trading real assets as convenient and seamless as trading cryptocurrencies, while maintaining the transparency and speed that users of digital markets expect.»
The report also highlights the convergence of user behavior: the vast majority of traders working with tokenized shares already own crypto assets. This means that demand is being driven primarily by existing crypto market participants expanding their exposure, rather than by a fundamentally new audience. This feature makes exchanges a natural «gateway» for tokenized real assets (RWA), especially against the backdrop of growing institutional interest in on-chain settlements and custodial solutions.
Block Scholes analyst Tabib Rahman added:
«Tokenized assets grew exponentially in 2025, fueled by the pro-cryptocurrency policies of the US administration and increasing institutional participation. Throughout the year, Block Scholes consistently emphasized that stablecoins were the first step towards on-chain tokenization. The next stage, which we believe will be a key narrative in 2026, is the tokenization of stocks and commodities in the traditional financial world. Bitget has already taken the first steps in this direction through UEX, providing a single platform for trading stocks and ETFs from Ondo Finance and xStocks, which are managed and stored in the Bitget Wallet. At the same time, the market is still in its early stages: tokenized assets closely follow off-chain markets during their operating hours, and spreads remain somewhat wider outside these hours. This sets the stage for further growth in tokenization of real assets in 2026.»
The report concludes: As tokenized assets expand beyond stablecoins to include equities, treasuries, and index products, the market remains in its early stages of development but is becoming increasingly scalable. 24/7 access, growing liquidity, and unified portfolio management demonstrate how Bitget’s evolution as 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 the link .
