Coinbase reports 46.7K holders for tokenized stocks on Base

Coinbase: Coinbase operates a major cryptocurrency exchange and provides infrastructure for digital asset trading and services. It developed Base, an Ethereum layer-2 blockchain, to support onchain applications and asset tokenization. In this news, Coinbase issued tokenized versions of U.S. stocks on Base, enabling broader onchain distribution of equities. Token Terminal: Token Terminal is a data analytics platform focused on blockchain metrics, user activity, and project performance across crypto ecosystems. It aggregates and shares onchain data to highlight adoption trends and platform usage. The news references Token Terminal's reporting on holder growth for Coinbase-issued tokenized stocks on Base. • Coinbase recently launched tokenized U.S. equities on the Base blockchain, starting with major names like Apple, Nvidia, Meta, Alphabet and later expanding to additional tickers such as Amazon, Tesla and Microsoft. • Each tokenized stock (e.g., AAPLc, NVDAc) represents a 1:1 claim on an actual share held by a regulated custodian, issued via a Coinbase special-purpose vehicle under Abu Dhabi Global Market oversight. • The product is restricted to eligible non-U.S. investors, offered under Regulation S, with American investors explicitly excluded; tokens can be held in self-custody wallets and traded 24/7 on supported DeFi venues. • Launch-day value was on the order of low single-digit millions of dollars onchain, but subsequent data show rapid growth in holders and activity as more stocks and DeFi integrations came online. • Brian Armstrong’s note that Base tokenized stocks now have 46,700 asset holders, up 97x in 30 days, highlights strong early traction but still modest scale versus traditional equity markets. • For prediction markets, the key signal is accelerating onchain adoption of real-world assets (RWA) on Base, which may influence expectations around Coinbase’s long-term RWA strategy, regulatory engagement, and fee revenue mix.