What Are xStocks?

An xStock is a crypto token that tracks the price of a real stock. When Tesla's stock price goes up, the value of xTSLA goes up by the same amount. When it goes down, xTSLA goes down.

xStocks live on the blockchain as ERC-20 tokens — the same standard used by most crypto tokens. This means they sit right in your wallet alongside any crypto you hold, and you can buy and sell them 24 hours a day, 7 days a week.

An important distinction: xStocks are tracker certificates, not actual shares. This means:

• You do not become a shareholder of the underlying company
• You do not get voting rights at shareholder meetings
• You do not receive direct dividends (but the token contract handles rebasing to account for dividends automatically)
• You do get the same price performance as the underlying stock

Think of it like an ETF that tracks a single stock. You get the price exposure without the administrative overhead of being a registered shareholder.

When the underlying stock pays a dividend or undergoes a stock split, the xStock token contract handles this automatically through a process called rebasing.

For dividends, the token price adjusts to reflect the dividend-adjusted value. For stock splits, the number of tokens in your wallet adjusts proportionally. You do not need to do anything — it happens automatically.

Unlike the New York Stock Exchange or NASDAQ, which are only open Monday through Friday from 9:30 AM to 4:00 PM Eastern, xStocks trade on a 24/7 secondary market.

This means you can buy or sell xTSLA at midnight on a Sunday if you want to. The secondary market provides continuous liquidity, although spreads may be wider during off-hours when the underlying stock market is closed.