The tokenized stock platform xStocks collaborates with Fundrise to bring the Fundrise Innovation Fund, recently listed on the blockchain, with an asset of a VCXx token expected to launch in the coming days.
This move brings a closed-end fund holding private equity in technology companies onto the cryptocurrency infrastructure, amid significant fluctuations in fund prices following the IPO and emerging questions regarding oversight from regulatory agencies.
MAIN CONTENT
xStocks and Fundrise bring the Fundrise Innovation fund to the blockchain.
The asset of a VCXx token is expected to launch in the coming days.
The fund increased from $31 to $575 after the IPO, amid questions about the SEC investigation.
What is VCXx and when will it launch?
VCXx is an asset token representing Fundrise Innovation, expected to be listed on the xStocks platform in the coming days.
Information published on March 29 states that xStocks is partnering with the alternative investment company Fundrise to bring the newly listed Fundrise Innovation fund to the blockchain. The product is described as a single-token asset, code VCXx, and will appear on xStocks shortly.
Putting the fund on the blockchain expands the reach of tokenized equity-like products in the cryptocurrency field, but the article does not provide further details on trading mechanisms, holding rights, or the legal structure of the token.
The fund portfolio, price volatility, and risks are stated
This closed fund holds private equity stakes in Anthropic, Databricks, and SpaceX; the price increased from $31 per share to $575 in just a few days after the IPO on March 19.
The described portfolio includes private technology companies. The Fundrise Innovation fund had an initial offering price of $31 per share, which then surged to $575 within a few days of the IPO on March 19.
However, some short-selling companies say Fundrise may be under investigation by the SEC regarding paid solicitation activities. The article does not draw conclusions from the investigation or provide official confirmation, but this information could impact sentiment when the fund is brought to the blockchain via xStocks.
Source: https://tintucbitcoin.com/xstocks-token-hoa-ra-mat-fundrise-innovation-fund/
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