xStocks has launched a new tokenized asset, VCXx, representing shares in the Fundrise Innovation Fund, now trading on-chain. The fund provides retail investors exposure to stakes in private companies such as Anthropic, Databricks, and SpaceX.
The token launch follows the fund's debut on the New York Stock Exchange, where its price surged from $31 to $575 before facing volatility amid criticism.
A short-seller report raised concerns about Fundrise Advisors LLC’s past SEC charges and possible influencer compensation, contributing to a drop in share value. Fundrise CEO Ben Miller dismissed the allegations as a baseless attack.
Meanwhile, the broader tokenized equities market surpassed $1 billion in total value earlier this month. Platforms like Ondo and xStocks dominate the space, holding 58% and 24% of market share respectively. Analysts cite regulatory complexity and liquidity advantages as key drivers of consolidation.
