Hyperliquid to Add 11 Tokenized US Stocks and ETFs Through EQX Labs
EQX Labs plans to introduce 11 tokenized US stocks and exchange-traded funds on Hyperliquid's HyperCore order book, expanding the decentralized trading platform's access to traditional equity markets. The proposed offering will include major technology companies and ETFs tracking the S&P 500 and Nasdaq 100, with trading available 24 hours a day, seven days a week for eligible participants.
The tokens will be issued as HIP-1 assets and traded against USDC, according to EQX's plans. The company has not announced an exact launch date, and the products will not be available to US persons.
The planned launch adds another issuer to Hyperliquid's growing tokenized equity ecosystem, where traders can access blockchain-based exposure to traditional financial assets without relying exclusively on conventional stock market trading hours.
Which Stocks Will EQX Bring to Hyperliquid?
EQX Labs plans to launch tokenized versions of Apple, Nvidia, Microsoft, Amazon, Alphabet, Meta, Tesla, Micron and SpaceX. The offering will also include products tracking the S&P 500 and Nasdaq 100 through exchange-traded funds.
The assets will be listed directly on HyperCore, Hyperliquid's central limit order book infrastructure. Trading against USDC is intended to provide eligible users with continuous access to the tokenized markets, including outside regular US stock exchange hours.
Hyperliquid already supports equity-related trading through Trade[XYZ], which offers perpetual futures linked to individual stocks and market indexes. These derivatives allow traders to speculate on price movements without owning the underlying shares.
EQX's proposed products would add another form of equity exposure to the ecosystem, alongside tokenized stock offerings from Ondo Finance and xStocks.
How EQX Plans to Back Its Tokenized Stocks
According to EQX documentation, each token will be backed on a one-to-one basis by shares held through custodians connected to the Depository Trust Company. The named custodians are Alpaca, StoneX and Clear Street.
EQX also plans to publish custody information to help traders verify the shares backing the tokens. The products will be issued by EQX SPC Ltd., a segregated portfolio company incorporated in the British Virgin Islands, with each ticker assigned a separate portfolio holding its underlying shares.
However, the tokens will not provide direct ownership of the underlying securities. Instead, holders will own limited-recourse debt instruments backed by the shares, with contractual claims against the issuer.
This distinction means that token holders' rights will depend on the contractual structure rather than being equivalent to holding shares directly through a conventional brokerage account.
Dividends, Voting Rights and EQX Trading Fees
EQX plans to pass through certain economic benefits associated with the underlying stocks. Dividends will be reinvested automatically into additional shares after applicable withholding, according to the company's documentation.
Token holders will also be able to submit voting instructions through wallet signatures. The arrangement provides a mechanism for communicating voting preferences, although the tokens themselves will not represent direct ownership of the underlying securities.
The company says it will not charge fees for token issuance, redemption or holding. Traders will instead pay Hyperliquid's standard spot trading fees.
EQX plans to generate revenue through a share of those trading fees, reducing its reliance on separate issuer charges or trading spreads.
Token creation and redemption will be available to eligible authorized participants, while other traders will access the assets through Hyperliquid's order book. The products will not be offered to US persons.
EQX Enters a Growing Tokenized Equity Market
The planned launch comes as multiple issuers expand blockchain-based access to traditional equities. In August, xStocks introduced tokenized US equities on HyperCore, initially offering five assets, including Nvidia, Micron and ETFs tracking the S&P 500 and Nasdaq 100.
Ondo Finance has also expanded its tokenized stock infrastructure to Hyperliquid's HyperEVM, enabling users to transfer assets from Ethereum and BNB Chain into the ecosystem.
EQX is positioning its offering around its custody arrangements and fee structure as it seeks to expand equity price discovery on Hyperliquid. Its plans also include additional applications for tokenized stocks, such as using them as collateral in lending markets, hedging positions with equity perpetual futures and incorporating them into trading strategies.
Tokenized Stocks Extend Trading Beyond Traditional Market Hours
The EQX proposal reflects the growing overlap between decentralized trading platforms and conventional financial markets. Tokenized equities can provide blockchain-based exposure to stock prices while allowing eligible users to trade outside the operating hours of traditional exchanges.
However, the structure of the products remains important. EQX's planned tokens will represent contractual claims backed by underlying shares rather than direct ownership of those securities, and access will be restricted for US persons.
The launch date remains unconfirmed as EQX prepares to introduce its planned 11 tokenized stocks and ETFs to Hyperliquid.
data source: cryptobriefing.com
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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