The tokenization of real-world assets (RWAs) is emerging as a key trend in crypto, and tokenized stocks are starting to gain traction. By bringing traditional equities like Tesla, Apple (AAPLX), and the S&P 500 (SPYX) onto the blockchain, tokenized stocks offer global accessibility, 24/7 trading, and seamless integration with crypto portfolios.
Although the sector is still in its early stages, it's growing quickly. Since the start of 2024, the total market cap of tokenized stocks has jumped 297.2%, rising from 2.9 million to 11.4 million US dollars as of May 2025. This growth is being driven by increased demand from crypto-native traders and the introduction of tokenized stock listings on major digital asset platforms.
One of the most talked-about examples is TSLAX (Tesla), a tokenized version of Tesla stock that mirrors the price of TSLA and can be traded directly on-chain. It offers a new way to gain Tesla exposure without the limitations of traditional brokers or market hours.
What Is Tesla?
Tesla Inc. (NASDAQ: TSLA) is one of the most influential and widely traded companies in the world. Founded in 2003 and led by Elon Musk, Tesla designs and manufactures electric vehicles, battery energy storage systems, and AI-based self-driving technology. It has become a symbol of innovation and disruption across the automotive and clean energy industries.
Tesla's stock has long been known for its high volatility, strong performance, and broad appeal among both institutional and retail investors. With a recent market capitalization of approximately 1.08 trillion US dollars, Tesla remains one of the most in-demand assets across both traditional and digital platforms. As a result, it is also one of the first and most in-demand stocks to be brought on-chain through tokenization, making it an ideal entry point for those looking to explore tokenized equities.
What Are Tokenized Stocks or xStocks?
Tokenized stocks are digital representations of traditional equities that exist on the blockchain. Each token reflects the real-time price of a publicly traded stock, and in most cases, is backed 1:1 by actual shares held in regulated custody. This structure allows traders to gain exposure to companies like Tesla, Apple, or Nvidia (NVDAX) using crypto wallets, without the need for a traditional brokerage account.
Tokenized stocks aim to combine the familiarity of legacy equities with the accessibility and flexibility of digital assets. Traders can buy, sell, or hold them 24/7, even outside of regular stock market hours. Many platforms also allow fractional ownership, letting users invest with as little as a few dollars.
Within this category, xStocks is the branded name for the tokenized stock product line offered by Backed Finance, one of the leading issuers in this space. xStocks are issued as fully collateralized tokens, backed by real shares held by a licensed custodian. They follow the price movements of the underlying stocks and are designed to provide transparent, crypto-native access to some of the most well-known assets in traditional finance.
Tokenized stocks' TVL | Source: RWA.xyz
As of July 2025, the total value locked (TVL) of tokenized stocks has crossed $487 million, up by over 20% since June. Backed Finance currently holds 77% of this market, with xStocks serving as a key driver of adoption.
What Is TSLAX Tesla Tokenized Stock and How Does It Work?
TSLAX is a tokenized asset that mirrors the real-time market price of Tesla Inc. (TSLA) stock. Issued under the xStocks line by Backed Finance, TSLAX gives users on-chain access to Tesla's price performance without going through a traditional brokerage account.
Each token is fully backed by a corresponding TSLA share held in regulated custody, ensuring transparent and verifiable value alignment. As Tesla’s stock price moves on the Nasdaq exchange, TSLAX reflects those changes on-chain.
Tokenized Stock Mirroring the Price in Stock Market | Source: BingX TSLAX & CNBC
Trading TSLAX also introduces several unique advantages:
• 24/7 Trading Access: TSLAX can be bought or sold at any time, including weekends and holidays, offering continuous exposure beyond regular stock market hours.
• Global Availability: Anyone with a crypto wallet and access to a supported platform can trade TSLAX without regional or institutional barriers.
• Fractional Ownership: Users can purchase a fraction of a Tesla share, making the asset more accessible to smaller investors.
• Near-Instant Settlement: Transactions clear within minutes on-chain, improving capital efficiency and reducing counterparty risk.
• Seamless Crypto Integration: TSLAX fits directly into a crypto portfolio, enabling traders to manage tokenized equities alongside digital assets.
By mirroring Tesla’s price in a blockchain-native format, TSLAX creates a flexible and borderless alternative to traditional stock investing.
What’s the Difference Between Trading Tesla Stocks and Tokenized Stocks?
While tokenized stocks like TSLAX are designed to mirror the value of their traditional counterparts, the trading experience is fundamentally different. The main differences come from how they are accessed, settled, and integrated into investment workflows.
Here is a side-by-side comparison:
Tokenized stocks are not just digital representations of equities. They reflect a shift toward more open, flexible, and accessible financial infrastructure. For investors already in the crypto ecosystem, they offer a familiar yet expanded way to interact with traditional markets.
It is important to remember that tokenized stocks are not listed on traditional exchanges and may be subject to different legal and compliance frameworks depending on the platform and jurisdiction.
How to Trade TSLAX on BingX
BingX supports TSLAX trading through its spot market, allowing users to buy and sell Tesla’s tokenized price movements directly, without leverage. Whether you are building a long-term position or entering during price dips, BingX AI provides real-time insights to help you make more informed decisions.
Source: TSLAX/USDT Market Analysis Using BingX AI
Step 1: Search for TSLAX/USDT on the Spot Market
Go to the Spot Market on BingX and enter TSLAX/USDT into the search bar. Choose between a market order or a limit order depending on your buying strategy.
Step 2: Activate BingX AI for Real-Time Insights
Click the AI icon on the trading chart to activate BingX AI. It will scan recent price action, identify support and resistance levels, and highlight trend momentum.
Step 3: Plan Smarter Entries Using BingX AI
Use BingX AI’s insights to evaluate entry points, watch for reversal patterns, and adjust your strategy based on Tesla-related news or macro events. The AI tool can also help you recognize key zones where buy orders may cluster, helping you avoid chasing price spikes.
Because TSLAX mirrors the price of Tesla stock, staying aware of TSLA earnings reports, major market moves, or broader stock trends can improve your timing when buying or selling.
Key Considerations Before Investing in TSLAX
While TSLAX offers flexibility and on-chain access to Tesla’s price movements, there are important factors to consider before adding it to your portfolio.
1. No Shareholder Rights: Holders of TSLAX do not receive voting rights, dividends, or shareholder updates. Unlike traditional TSLA shareholders, TSLAX investors only have price exposure, without any direct equity ownership benefits.
2. Market Size and Liquidity: The tokenized stock sector remains relatively small, with a total market cap of 11.4 million US dollars as of May 2025. Liquidity can vary, so it is important to check order depth and spreads before entering or exiting a position.
3. Custody and Transparency: Although TSLAX is fully backed by Tesla shares, investors should confirm that the issuer clearly discloses its custodial arrangements and verification processes. Transparent reporting builds trust and reduces risk.
4. Regulatory Uncertainty: Tokenized stocks operate in a developing regulatory landscape. Depending on your jurisdiction, access may be limited or subject to future changes in legal status. Always verify compliance with local laws.
5. Price Divergence During Off-Hours: TSLAX trades around the clock, while TSLA is limited to Nasdaq hours. This can lead to temporary price gaps, especially on weekends or during earnings events. These discrepancies generally self-correct but may affect short-term trades.
Carefully weighing these considerations can help you determine whether TSLAX aligns with your investment objectives and risk tolerance.
Final Thoughts: Should You Buy Tesla xStock (TSLAX)?
TSLAX represents a new frontier in how traditional stocks can be accessed and traded. By mirroring the price of Tesla stock on-chain, it combines the familiarity of a well-known equity with the flexibility and speed of blockchain infrastructure.
For investors looking to diversify their portfolios or gain Tesla exposure without using a traditional brokerage, TSLAX offers a compelling alternative. It allows for fractional investment, 24/7 trading, and seamless integration into crypto-native strategies.
However, it is important to recognize that TSLAX is not a traditional share. It does not confer shareholder rights and operates within a still-maturing market. As with any financial product, understanding its structure, limitations, and risks is essential.
As the tokenized stock sector continues to grow, products like TSLAX may play an increasingly important role in bridging the gap between traditional finance and decentralized markets.