Bitget-Block Scholes Study Shows Tokenized Stocks Cut Collateral Needs By Half But Raise Liquidation Risk; Nasdaq CEO Sees Billions In Trapped Capital
Bitget and Block Scholes research finds tokenized stocks as collateral reduce capital requirements 50% but increase correlation-driven liquidation risk, while Nasdaq CEO Adena Friedman says tokenization could free tens of billions in collateral.
Why it matters
The research highlights a structural trade-off: tokenized stock collateral improves capital efficiency but concentrates risk when crypto and equity markets move together. Nasdaq's institutional endorsement signals growing traditional finance adoption, though the divergence between rising tokenized asset valuations and collapsing trading volumes raises questions about secondary-market liquidity.
Key facts
Bitget and Block Scholes modeled a $1 million portfolio using tokenized stocks as collateral for crypto perpetual positions
1,000,000 USDReported by CoinGape
Tokenized stock collateral reduced required capital from approximately $340,000 to $175,000
340,000 USDReported by CoinGape
Portfolio with tokenized stock collateral would liquidate at a 21% market drop versus 27% with USDT
21 %Reported by CoinGape
Bitcoin-Nasdaq-100 correlation averaged +0.41 since 2022 and peaked at +0.75
0.41Reported by CoinGape
Nasdaq CEO Adena Friedman said tokenization could unlock tens of billions of dollars in trapped collateral
Reported by Bitcoin Insider
Tokenized stock market capitalization reached $3.8 billion, up 18.6% over 30 days
3,800,000,000 USDReported by CoinGape
Tokenized stock DEX trading volume fell 64.2% over 30 days to $16.8 billion
16,800,000,000 USDReported by Crypto News Flash
Strategy (MSTR) holds $491 million in combined tokenized stock value across MSTR and STRC
491,000,000 USDReported by CoinGape
What happened
Crypto exchange Bitget and research firm Block Scholes published a study on October 7 modeling a $1 million portfolio using tokenized AI and semiconductor stocks as collateral for BTC and ETH perpetual positions plus a short Nasdaq-100 ETF perpetual. The unified account structure cut required capital from roughly $340,000 to $175,000, a near 50% reduction. However, the same portfolio would liquidate at a 21% market drop versus 27% with USDT collateral, reflecting a Bitcoin-Nasdaq-100 correlation averaging +0.41 since 2022 and peaking at +0.75. Separately, Nasdaq CEO Adena Friedman said at TOKEN2049 in Singapore on October 8 that tokenizing Treasurys, equities and money market funds could unlock tens of billions of dollars currently trapped in collateral. Market data shows tokenized stock market capitalization reached $3.8 billion, up 18.6% over 30 days, while DEX trading volume fell 64.2% to $16.8 billion. Strategy (MSTR) leads tokenized companies with $491 million combined tokenized value. Securitize launched 12 tokenized U.S. stocks on Solana in October, and Nasdaq invested $100 million in Kraken parent Payward in September.
How the story developed
- Update
Securitize launches 12 tokenized U.S. stocks on Solana
Tokenized equities made available to eligible investors in October
- Update
Bitget and Block Scholes publish collateral study
Report models $1M portfolio showing 50% capital reduction but higher liquidation risk with tokenized stock collateral
- Official statement
Nasdaq CEO Adena Friedman comments on tokenization at TOKEN2049
Friedman says tokenization could free tens of billions in collateral, identifies Treasurys, equities, money market funds as candidates
- First report
First report by CoinGape
Tokenized Stocks as Collateral Cut Capital Needs by Nearly Half, Bitget-Block Scholes Study Finds
- Update
Tokenized stock market cap hits $3.8B all-time high
Market capitalization rises 18.6% over 30 days while DEX volume contracts 64.2%
- Update
Strategy becomes largest tokenized company with $491M value
MSTR and STRC tokenized shares combine for $491M, surpassing Nvidia, Tesla, SpaceX
- Independent corroboration
Independently corroborated by Crypto News Flash
Tokenized Stock Trading Falls 64% as Market Value Climbs
- Update
Nasdaq invests $100M in Kraken parent Payward
Strategic investment for market infrastructure announced in September
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 8 Oct 2026, 11:44 UTC: CoinGape — 1 independent source, 1 reports
- 9 Oct 2026, 00:18 UTC: Bitcoin Insider — 2 independent sources, 2 reports
- 9 Oct 2026, 12:07 UTC: Blockchain.News — 3 independent sources, 4 reports
- 10 Oct 2026, 20:00 UTC: Crypto News Flash — 4 independent sources, 6 reports
- 11 Oct 2026, 10:35 UTC: U.Today — 5 independent sources, 7 reports
- 11 Oct 2026, 10:38 UTC: Crypto.News — 6 independent sources, 8 reports
Affected entities
Also mentioned: Tether USDt, Kraken, Solana, Ethereum, Tesla, U.S. Securities and Exchange Commission, Federal Reserve
Original sources
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