Gate Research: Stock tokens have grown more than 50 times this year; competition from multiple approaches is accelerating the new landscape of asset on-chaining.

PANews reported on December 5th that Gate Research recently released a report titled "The Roadmap Debate for Tokenized Stock Solutions," outlining the current state and diverging paths of tokenized stock solutions. The report shows that the total market capitalization of tokenized stocks (including ETFs) has exceeded $500 million, growing more than 50 times this year. However, its penetration rate in global stock markets and ETFs is only about 0.0004% and 0.003% respectively, indicating huge growth potential.

The report focuses on four representative models: xStocks, Ondo Global Markets, StableStock, and Robinhood, comparing them from the perspectives of mechanism architecture, liquidity, and composability, presenting a multi-path competitive landscape of "homogeneous assets, heterogeneous implementations." The report points out that the current tokenized stock sector faces three major bottlenecks: liquidity fragmentation, demand mismatch, and compliance fragmentation. Furthermore, the report predicts that the future will be driven by three trends: first, the expansion of assets into ETFs, pre-IPO, and perpetual contracts; second, the promotion of regional implementation; and third, the potential deep involvement of traditional financial giants.

Gate Research believes that tokenized stocks are becoming the next key sector for RWA (Responsible Weaponization) after stablecoins and government bonds. With improvements in technology, compliance, and liquidity, the prototype of an all-weather, global, on-chain stock market is rapidly taking shape.