Kraken and Bitget Set the Pace in the Early Innings of Tokenized Stock Trading

Kraken-backed KRAKacquisition Corp, a SPAC, announced plans to raise $250 million through a U.S. IPO by offering 25 million units at $10 each according to Seeking Alpha. The SPAC plans to trade on the Nasdaq under the ticker KRAQU and is targeting businesses in crypto infrastructure. This follows Kraken's separate confidential filing for its own IPO in November 2025 as reported.

Bitget's tokenized stock trading volume has crossed $1 billion, driven by a surge in tokenized gold and silver trading. The platform offers tokenized versions of major equities and ETFs, with the majority of the trading volume generated in December 2025.

The growth of tokenized assets is being supported by expanded platform capabilities, including new listings of U.S. stocks and ETFs. Bitget has expanded its offering to over 200 tokenized stocks, including major names like Apple, Tesla, and Microsoft.

Why Did This Happen?

Kraken's SPAC is backed by its strategic initiatives and regulatory expertise. Key personnel from Kraken are involved in the SPAC's management team, including Sahil Gupta and Robert Moore. This partnership is expected to incentivize Kraken to support the SPAC's efforts in targeting businesses within the digital asset ecosystem.

Bitget has introduced a streamlined trading experience and expanded its equity offerings through partnerships with firms like Ondo Finance. The platform now supports over 200 tokenized U.S. stocks and ETFs, reflecting a growing demand for global equity exposure.

What Are Analysts Watching Next?

Analysts highlight the potential for tokenized equities to become a core part of modern market participation. Platforms like Bitget are enabling global users to trade tokenized stocks continuously. This shift is expected to increase liquidity and participation in traditional financial markets.

The expansion of tokenized assets is being supported by regulatory developments, including the SEC's recent no-action letter to DTC, which allows a pilot version of its tokenized services to operate. This regulatory clarity is seen as a critical factor in the growth of tokenized equities and commodities.

What Are the Investor Implications?

The rise of tokenized assets is transforming how investors access traditional markets. Tokenized equities enable real-time trading and settlement, which can improve portfolio management. This shift is expected to benefit platforms that offer low-cost, continuous trading environments.

Tokenized commodities, including gold and silver, have also seen significant volume growth. As these assets gain traction, they are attracting a broader range of investors.

Investors are advised to monitor developments in regulatory frameworks and market infrastructure. The convergence of crypto and traditional finance is expected to continue, with platforms like Bitget and Kraken playing a central role.