Tokenised stock platform xStocks and alternative investment platform Fundrise are working together to put the Fundrise Innovation Fund on a blockchain, Cointelegraph reported on March 28.
That will allow on-chain access to stakes in unlisted technology companies including Anthropic, Databricks and SpaceX.
The tokenised asset VCXx is expected to begin trading on the xStocks platform within days.
The Fundrise Innovation Fund is a closed-end fund that listed on the New York Stock Exchange early this month. Soon after listing, its shares surged from the March 19 IPO price of $31 to a peak of $575.
The rally did not last long. Short-selling research firm Citron Research disclosed in a Thursday report that Fundrise Advisors LLC was sanctioned by the U.S. Securities and Exchange Commission over paid marketing activities in 2023. In response, Fundrise Innovation Fund co-founder and CEO Ben Miller (벤 밀러) appeared on CNBC on Friday and pushed back, saying critics were running an unfounded smear campaign.
Chi-gyu Hwang
delight@d-today.co.kr