HTX launches 20 tokenized U.S. stocks and ETFs in USDT trading

By Marcus Bennett

HTX scheduled 20 tokenized U.S. stocks and exchange-traded funds to begin spot trading against USDT on Nov. 9, according to the exchange’s listing announcement. The launch puts brokerage-like exposure onto a crypto order book, but buyers still do not receive direct ownership of the tracked shares.

Justin Sun announced the rollout in an X post: “US stock spot trading has officially launched on Huobi HTX.” His announcement followed HTX’s publication of its listing schedule and comments indicating that similar services were coming to Poloniex.

HTX organized the opening around staged liquidity:

• HTX scheduled deposits to open at 08:00 UTC on Nov. 9.

• SPCX/USDT trading was set for 09:00 UTC, and CRCL/USDT for 10:00 UTC.

• Additional pairs were expected to open as liquidity became available.

• HTX had not announced a withdrawal date.

• The initial 20-asset roster includes SNDK, SOXL, SPCX, CRCL, MSTR, MU, TSLA, NVDA, INTC, AMD, QQQ, TQQQ and GOOGL.

• The selection mixes individual companies with ETFs, including leveraged products that can behave differently from ordinary stocks.

Among the assets are tokens linked to Nvidia, Tesla, Circle and Strategy. HTX published contract addresses for all 20 assets. Initial support covers only bStocks tokens issued on BNB Smart Chain.

HTX introduced a zero-maker-fee promotion from Nov. 9, 2026, through Feb. 9, 2027. Regular taker fees remain applicable throughout, so the promotion lowers one side of the trading cost rather than eliminating every fee.

What does this change for traders?

The practical change is access to a tokenized representation of U.S. securities, not direct ownership of the issuer’s shares. HTX describes the products as bStocks that deliver economic exposure to publicly listed stocks and ETFs. Token holders generally cannot vote, and dividends, splits and other corporate actions depend on the relevant issuer’s terms.

HTX says bStocks are backed by underlying securities or other eligible assets, with specific arrangements set by the issuer’s product documentation. The exchange calls bStocks tokenized derivatives and warns that their market prices can differ from the securities they track.

HTX did not name a specific custodian for the underlying securities. It directs users to issuer documentation for custody, backing and redemption arrangements, leaving those operational details outside its main launch notice.

Under HTX’s unified model, supported tokens representing the same security can share a trading symbol, account balance and order book, even when issued on different blockchains. Initially, only BNB Smart Chain tokens from the bStocks series are supported. Additional issuers and networks may follow, but HTX has published no timetable.

That structure makes issuer documentation, redemption mechanics and network support core operational dependencies, rather than footnotes for customers deciding which token represents a familiar public company.

Access remains subject to geographic restrictions and customer eligibility requirements. HTX did not provide a complete list of permitted countries or establish whether U.S. residents can access the new pairs.

A crowded market

HTX joins Binance and Kraken in expanding stock-related products across crypto exchanges, where platforms offer both conventional securities and blockchain representations.

In June, crypto.news reported Binance’s bStocks launch with tokens linked to Nvidia, Tesla and other companies. Binance issued those tokens through affiliate BTech Holdings Limited and backed them with underlying securities held through third-party custody arrangements. An October update said eligible customers could convert supported stock positions into corresponding blockchain tokens at a 1:1 ratio.

Kraken has introduced U.S. stock trading for eligible European customers alongside tokenized xStocks products. HTX’s listing terms do not confirm Poloniex’s supported assets or launch schedule.

The legal backdrop

Sun’s launch followed a separate resolution of his earlier dispute with the U.S. Securities and Exchange Commission. In March 2023, the SEC sued Sun and several related companies over alleged unregistered cryptocurrency offerings and wash trading.

In March 2026, the SEC announced a settlement dismissing its claims against Sun, Tron Foundation and BitTorrent Foundation with prejudice. On March 9, 2026, a federal court entered a final judgment requiring Rainberry, another defendant, to pay a $10 million civil penalty. The defendants resolved the matter without admitting or denying the relevant allegations.

Separately, HTX reached an October settlement in Britain involving financial-promotion restrictions. The agreement included undertakings lasting until October 2031 and withdrawal arrangements for eligible British customers.

HTX was contacted by crypto.news for clarification on backing, custody, geographic eligibility and the Poloniex rollout, but had not responded by press time.

The next concrete checkpoint is HTX’s publication of withdrawal timing, eligible jurisdictions and issuer-specific custody terms. The British financial-promotion undertakings run until October 2031, while the zero-maker-fee offer ends Feb. 9, 2027.