Tokenized Stock Markets Close Liquidity Gap with Crypto

Bitget's tokenized stock markets have made significant strides in closing the liquidity gap with crypto, according to a joint report from Bitget and analytics firm Block Scholes.

The report found that NVDA-linked perpetuals reached about $4.1 million in liquidity depth, roughly 75% of the exchange's Bitcoin spot market. This level of liquidity was achieved through a combination of tighter spreads and deeper order books across major contracts.

The study examined four of Bitget's largest tokenized perpetual contracts: NVDA-USDT, SPY-USDT, QQQ-USDT, and XAU-USDT. These contracts provide synthetic exposure to Nvidia stock, the SPDR S&P 500 ETF, the Invesco QQQ ETF, and gold through crypto-based trading infrastructure.

The report noted that liquidity conditions improved as U.S. trading hours progressed. During one observation period on May 18, SPY-USDT's bid-ask spread narrowed from 1.76 basis points shortly after the U.S. market opened to 0.14 basis points less than an hour later.