Aptus Value has 4% of equity traded in 2 blocks

Aptus Value has 4% of equity traded in 2 blocks

Galaxy Digital has made history by becoming the first public company to tokenize its SEC-registered equity directly on a major public blockchain. The company has launched "tokenized GLXY," allowing holders of its Class A common stock to convert shares into tokens on the Solana blockchain via Superstate, the firm's digital transfer agent [1].

The tokenization process is significant as it marks the first time a publicly listed U.S. equity is available in native form on a major public blockchain. Each on-chain GLXY token represents an actual share with the same legal and economic rights as traditionally held stock. The process involves a "bridge" where shares are moved from a brokerage to Galaxy’s transfer agent and then into Superstate’s on-chain-eligible account, with one token minted per share and delivered to the investor’s Solana wallet [1].

Galaxy Digital chose Solana for its speed, throughput, and growing role as a high-volume spot trading Layer 1 (L1) blockchain. The firm argues that tokenized equities belong on decentralized base layers where no single operator can control core functions like ordering or settlement. While plans to support Ethereum L1 and Layer 2 solutions are in the works, the primary issuance is on L1 to preserve unilateral exits and minimize centralized choke points [1].

The launch comes during a friendlier U.S. policy backdrop, with Galaxy and Superstate working with the SEC to modernize rules for blockchain securities. Automated market makers (AMMs) and decentralized exchanges (DEXs) are not yet available for GLXY tokens, pending regulatory clarity. However, the KYC allowlist design mitigates typical MEV concerns by preventing unknown third parties from interacting with the token contract [1].

Aptus Value, a company with 4% of its equity traded in two blocks, could potentially benefit from such innovations. Tokenization could increase liquidity, reduce intermediaries, and lower transaction costs, potentially attracting more investors to the company's equity [2].

Key risks include regulatory determinations that could force changes or unwinds, liquidity fragmentation that could widen spreads, and operational frictions that may persist until processes are standardized. Despite these challenges, tokenized GLXY represents a significant step towards integrating blockchain technology into traditional financial markets, potentially leading to faster, cheaper, and fairer trading once real, compliant on-chain equities reach key mass [1].

References:
[1] https://cryptonews.com/news/galaxy-digital-debuts-solana-glxy-sec-shares/
[2] Aptus Value Equity Trading Data