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A total of 60 stocks and ETFs will be available as xStocks to Kraken customers in the EU.
Popular crypto exchange Kraken is expanding the availability of its xStocks service, now offering European Union clients access to tokenized U.S. equities and ETFs.
The initial offering comprises 55 stocks and five exchange-traded funds, including the SPDR S&P 500 ETF Trust (NYSE Arca SPY), SPDR Gold Shares (NYSE Arca GLD), and Vanguard Total Stock Market ETF (NYSE Arca VTI). xStocks enables trading 24 hours a day, five days a week, with a low minimum investment of $1 and the option for self-custody directly within the Kraken app.
A key differentiator from traditional brokerages is that these tokenized assets will soon be portable across compatible platforms and into personal wallets. Dividends would also be automatically reinvested into the token holder’s balance; however, the tokens do not confer voting rights.
How xStocks stacks up against the traditional EU route to U.S. equities:
Source: Kraken xStocks
Since its international debut in late June, Kraken has reported multi-billion-dollar cumulative trading volume in xStocks, with significant activity concentrated in Tesla Inc. (Nasdaq: TSLA), NVIDIA Corp. (Nasdaq: NVDA), Apple Inc. (Nasdaq: AAPL), and MicroStrategy Inc. (Nasdaq: MSTR).
Regarding the infrastructure, xStokens are issued on the Solana blockchain (SPL), with plans to expand to BNB Chain and Ink to enhance portability and DeFi composability — including the ability to use tokens as collateral.
The platform supports funding via both fiat currency and cryptocurrencies, including Bitcoin (BTC) and major stablecoins.
Why Kraken is entering the EU tokenized assets market
The expansion of xStocks directly addresses common hurdles for EU investors who typically face currency conversion fees and mismatched trading hours relative to EU zones.
European investors are also subject to complicated multi-day settlement delays when accessing U.S. markets. Kraken’s model mitigates against these friction points.
The entry of Kraken into the EU tokenized assets market occurs amid growing competition.
Recall that Robinhood Markets (Nasdaq: HOOD) rolled out over 200 tokenized stocks and ETFs for EU users in June, highlighting extended hours and low entry minimums.
The timing is further supported by regulatory clarity. Since December 2024, the EU’s MiCA framework has provided clearer rules for issuance, custody, and disclosures — an on-ramp for tokenized financial products that closely mirror existing securities.
The xStocks product forms part of Kraken’s broader expansion into spot crypto, tokenized assets, and derivatives. Recent acquisitions in futures trading infrastructure point to a unified platform where users can transition between on-chain equities, cryptocurrencies, and regulated futures.
