xStocks and Fundrise Launch Tokenized Fund with Investments in SpaceX and Anthropic

Summary

• xStocks is collaborating with Fundrise to transform its recently publicly traded VCX fund into an on-chain asset named VCXx.
• The VCX fund includes private equity in companies such as SpaceX, OpenAI, Anthropic, and Databricks.
• The total value of tokenized stocks on-chain surpassed $1 billion earlier this month.
• VCX shares experienced a significant increase from $31 to $575 after their listing on the NYSE, before declining to $173 following a short-seller report from Citron Research.
• xStocks has facilitated over $25 billion in transactions and has more than 100,000 unique holders globally.

(SeaPRwire) –   xStocks, a platform for tokenized equities, has announced a partnership with Fundrise, an alternative investment platform, to bring the Fundrise Innovation Fund onto the blockchain. This new tokenized asset will be available as VCXx on the xStocks platform shortly.

XStocks and Fundrise are partnering to tokenize the VCX Fund, enabling blockchain-based access to private tech investments. This initiative seeks to democratize venture capital access, potentially reshaping how illiquid assets are traded and owned. What challenges might this… pic.twitter.com/4fiUTYqVpT

— Times of Blockchain (@TimesOfBlockC_) March 29, 2026

The Fundrise Innovation Fund, which trades on the New York Stock Exchange under the ticker VCX, is a closed-end fund holding private shares in some of the world’s most prominent technology companies, including SpaceX, OpenAI, Anthropic, and Databricks.

The fund commenced trading on the NYSE on March 19, with an initial share price of $31. Strong early demand propelled the stock to a high of $575 per share within days of its debut.

However, the stock experienced a sharp decline after short-seller Citron Research released a report on Thursday. Citron highlighted that Fundrise Advisors LLC faced SEC charges in 2023 concerning paid solicitation and questioned whether the firm is currently compensating influencers to promote VCX.

Shares closed the week at $173, marking a decrease of nearly 34% on Friday, with an additional 5.9% drop in after-hours trading. Fundrise CEO Ben Miller stated to CNBC that critics were engaged in an baseless smear campaign and defended the fund’s strategy.

How the Tokenization Works

By tokenizing VCX, xStocks and Fundrise aim to broaden access to private market investments for a wider global investor base. Traditionally, investing in late-stage private companies like those within the VCX portfolio has been restricted to institutional investors or high-net-worth individuals.

The tokenized VCXx asset is designed for compatibility across various wallets, protocols, and trading platforms. It will also support functionalities such as collateralization and lending within decentralized finance systems.

xStocks operates on infrastructure managed by Payward, the parent company of the crypto exchange Kraken. The platform supports over 100 tokenized stocks and exchange-traded funds, and has recorded a combined transaction volume exceeding $25 billion with over 100,000 unique holders worldwide.

Payward recently announced a collaboration with Nasdaq to explore the integration of traditional stock markets with on-chain systems, which complements this latest VCX tokenization initiative.

Tokenized Stocks Cross $1 Billion

This partnership between xStocks and Fundrise occurs as the broader market for tokenized equities achieves a significant milestone. Data from RWA.xyz indicates that the total value of tokenized stocks on-chain surpassed $1 billion earlier this month.

Two platforms currently dominate this market: Ondo holds approximately 58% of the market share, while xStocks accounts for roughly 24%, according to RWA.xyz figures.

A March 2025 report from Foresight Ventures suggested that the market is consolidating around these early leaders, citing regulatory hurdles, liquidity advantages, and differing tokenization models as key contributing factors.

The VCXx asset is anticipated to become available on the xStocks platform within the next few days, as of the current reporting period.