Block Scholes: Tokenized assets are moving towards scaling; exchanges like Bitget will become key access layers.

A recent report by Block Scholes on the tokenization market points out that with the rise of tokenized stocks and ETFs, centralized exchanges are evolving into a key access layer connecting the crypto market and traditional finance. Leading exchanges, such as Bitget, are increasingly important in terms of liquidity supply, price discovery, and trade execution efficiency. Data shows that over 1 million users on the Bitget platform have participated in tokenized stock trading, and over 95% of tokenized stock traders also hold crypto assets. The report also shows that tokenized stocks are highly correlated with their corresponding off-chain stocks during normal trading hours, with intraday price differences typically remaining within a narrow range. For example, with SPYon, from October 21st to November 18th, 2025, its price mostly traded at a slight premium at SPY's opening, with the price difference mainly concentrated between 0.2% and 0.3%, and only one instance of a discounted trade. However, when the underlying market is closed at night or on weekends, the price discrepancy often widens, reflecting the structural differences and potential opportunities in 24/7 on-chain trading.