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Bitget stock token AUM surpasses 100 million USD, with a cumulative trading volume exceeding 670 million USD

Bitget announced that its stock token (rToken) product has surpassed $100 million in assets under management (AUM) one month after launch. As of July 6, the number of users participating in related asset trading has exceeded 100,000, with a cumulative trading volume of $671.37 million.In terms of asset distribution, rSPCX is currently the rToken with the highest TVL, accounting for 23.51%; rCSCO and rNVDA follow with 17.75% and 13.38%, respectively. Overall rankings indicate that early rToken demand is primarily driven by high-profile private market assets and technology-related targets, with AI infrastructure assets becoming a significant demand cluster, covering areas such as networking, chips, storage, and semiconductors.It is reported that rTokens, identified by the letter r + stock code (for example, NVIDIA is rNVDA), are issued by Reality, a licensed RWA protocol under Bitget, and are directly connected to global liquidity pools such as NASDAQ and NYSE through collaboration with compliant broker Alpaca. Their features include: 1:1 reserves of underlying assets managed by licensed custodians, stock dividends distributed in token form on a 1:1 basis, support for corporate actions such as stock splits and consolidations, and positions that can serve as joint collateral for unified accounts and U-based contracts, allowing users to flexibly manage funds while holding global stock assets.

News: Driven by oversubscription, SK Hynix will end its $28 billion ADR bookbuilding on Wednesday

According to Reuters, informed sources revealed that due to the subscription scale reaching several times, South Korean chip manufacturer SK Hynix will end its $28 billion American Depositary Receipt (ADR) issuance book-building at 4 PM Eastern Time on Wednesday. It is reported that the final pricing guidance for this issuance will be announced after the close of the Korean stock market on Thursday, and the allocation results will be finalized later on Thursday evening, with plans to officially list on Nasdaq on July 10.The report pointed out that this issuance has attracted strong demand from American investors, with several large orders ranging from $200 million to over $1 billion. The company previously disclosed that institutions such as Baillie Gifford and Coatue Management have expressed interest in purchasing a total of up to $7 billion in ADRs. This transaction is expected to issue 17.79 million new shares, making it the second largest stock issuance in history globally, following SpaceX's record $85.7 billion IPO last month, surpassing the previous records of Saudi Aramco (2019) and Alibaba (2014). As a core supplier of high bandwidth memory (HBM) for companies like Nvidia and Google, SK Hynix stipulates that every 10 ADRs represent 1 share of common stock, with a reference price of 242,500 Korean won per ADR based on the Seoul closing price on July 3.
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