Coinbase’s Base Stock Tokens Reach $1.02 Billion in Volume
The tokenized assets are valued at about $19.82 million, while primary Aerodrome pools hold roughly $12.97 million in combined liquidity.
Coinbase’s tokenized stocks on Base have reached about $1.02 billion in cumulative trading volume, far exceeding the roughly $12.97 million held in their primary Aerodrome pools.
The 10 tokenized assets have a combined value of about $19.82 million. A test involving a roughly $100,000 sale of one stock token before the U.S. market opened produced quotes 0.06% to 0.71% below the router’s valuation.
The gap between cumulative volume and pool balances shows that trading volume does not represent the amount of liquidity available for immediate purchases. The tokens can trade around the clock, including while U.S. stock markets are closed, but the underlying stock-price feed may remain at its previous-session level during those periods.
Primary minting and redemption are limited to authorized participants. That leaves the ability of secondary-market liquidity to absorb large sell orders uncertain.
Coinbase launched its tokenized-stock product on Base Aug. 24 for eligible non-U.S. users. The offering includes tokens linked to Apple, NVIDIA, Meta, Alphabet, Amazon, Microsoft, Strategy, SanDisk, SpaceX and Tesla, extending the platform’s 24/7 tokenized-stock offering.
