Binance founder Changpeng Zhao has stated that initial public offerings (IPOs) will move to blockchain. This claim sounds particularly convincing because the infrastructure for such operations is already running on regulated platforms, and the first transactions have already taken place. According to BeInCrypto, tokenized stocks currently hold around $2.9 billion in on-chain value, which is 14% more than a month ago. Zhao did not specify a timeline or details, but the technology he described is already functioning and has proven its viability in practice.
For on-chain investors, blockchain IPOs change three key aspects. First, access: a tokenized offering is open to retail buyers from day one, whereas traditional IPOs remain the privilege of institutional investors and accredited individuals. Second, timing: blockchain trading operates around the clock, so a listing no longer has to wait for an exchange to open. Third, size: shares are naturally divisible into very small fractions. The SEC clarified in January that tokenizing a share does not eliminate registration and disclosure requirements. Cost reduction also matters: automation removes part of the chain of underwriters, lawyers, and auditors who traditionally take their cut from every IPO.
Major exchanges are already adapting to the new reality. The New York Stock Exchange filed a rule in April that took effect immediately: tokenized versions of major companies' shares can now trade alongside ordinary ones, with next-day settlement. In Europe, an exchange licensed under the EU's distributed ledger technology pilot regime conducted the first on-chain IPO that same April. Grayscale names BNB Chain among the leading blockchains for tokenized stocks. The only open question is liquidity: while on-chain trading can run around the clock, thin order books still significantly affect prices. The signal for scaling will be a well-known public company choosing the same path. It is also important to note that certain tokenized products may only track a stock's price without conferring shareholder rights — everything depends on the terms of the specific instrument.
***
This material is prepared exclusively for informational purposes and does not constitute financial advice or a recommendation.