Binance bStocks pass $1bn AUM in four months: ~62% of volume outside US cash hours, now usable as up-to-5x collateral

[LondonNewsTrader]

Binance says bStocks, its tokenized 1:1 versions of US stocks and ETFs, have passed $1bn in assets under management about four months after launching on 11 June. They're calling it the fastest tokenized equity product to reach that level.

Numbers from the release:
- More than $40bn of cumulative volume since launch (over $300M a day on average), and nearly 100 tickers listed, up from 5 at launch
- $6bn converted between direct stock holdings and bStocks at 1:1
- In July only 38% of bStocks volume happened during regular US market hours, against 89% for normal US equities
- Since last month, eligible retail users can post supported bStocks as margin and futures collateral and borrow for up to 5x exposure
- Borrowing against deposited bStocks went from 5.5% at end-June to 46.2% by 10 September

The fine print matters. Binance doesn't serve US persons. The product is issued under an Abu Dhabi (ADGM) prospectus, and the tokens are certificates, not shares, so you don't hold the stock itself while it's tokenized.

Why it matters to us: more and more price discovery in US single names happens on venues that never close. A big weekend or overnight move in tokenized TSLA or NVDA can now feed into Monday's pre-market gap, and leveraged collateral on those tokens raises the risk of forced liquidations when the regular market is shut.

Source: [Binance press release (PR Newswire)](https://www.prnewswire.com/news-release ... 09927.html)

Does anyone here watch tokenized-stock prices over the weekend as an early read on the Monday gap? And would you ever hold equity exposure with a crypto venue as the counterparty instead of a regulated broker?