Key facts
- Using tokenized stocks as collateral for crypto trades reduced capital requirements from $340,000 to $175,000 for a modeled $1 million portfolio.
- The study found that portfolios using tokenized stocks as collateral were liquidated after a 21% market-wide drop, compared to 27% when using USDT.
- The correlation between Bitcoin and the Nasdaq-100 ETF has averaged +0.41 since January 2022, hitting a high of +0.75 and remaining elevated since mid-2024.
- Bitget's tokenized stocks, rStocks, offer stock exposure, eligible dividends in USDT, collateral value for other positions, and the ability to borrow stablecoins.
- Gracy Chen, CEO of Bitget, stated that the efficiency of capital use on-chain is a key question following asset tokenization.
A joint report by crypto exchange Bitget and digital asset research firm Block Scholes, published on October 7, 2026, explored the implications of using tokenized stocks as collateral for cryptocurrency trades. The study found that this approach could significantly reduce the capital required for traders, potentially by nearly half.
In a modeled $1 million portfolio scenario, utilizing tokenized stocks as collateral reduced the required capital from approximately $340,000 to $175,000. This efficiency stems from Bitget's Cross-Asset Unified Account, where tokenized stocks serve a dual purpose: providing stock exposure and acting as security for crypto positions, thereby eliminating the need for separate USDT margin.
However, the report also highlighted a critical trade-off. When subjected to a stress test simulating a market crash where both crypto and stocks declined in tandem, portfolios using tokenized stocks as collateral were liquidated after a roughly 21% market-wide drop. In contrast, portfolios collateralized with USDT survived up to a 27% drop, as USDT maintained its value while tokenized stocks depreciated alongside the broader market.
This increased vulnerability is attributed to the growing correlation between crypto and traditional stocks, particularly tech stocks, driven by shared macroeconomic factors like interest rates, inflation data, and investor risk appetite. The report suggests that this correlation means investing in both asset classes may not offer diversification but could amplify risk.
Bitget's tokenized stocks, known as rStocks, are designed to offer multiple benefits, including stock exposure, dividend eligibility, collateral value for other positions, and the ability to borrow stablecoins. While this multi-functionality enhances capital efficiency, it also means a single price drop can simultaneously impact holdings, loans, and trades.
Gracy Chen, CEO of Bitget, emphasized that the focus is shifting from simply tokenizing assets to efficiently utilizing capital on-chain. The exchange stated that its risk controls are evolving to match the flexibility offered by tokenization. The report also noted the increasing competition in the tokenized stock market, with platforms moving beyond basic on-chain access to integrating these assets into trading and capital management.