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The Hyperliquid ecosystem now has access to over 260 tokenized stocks and ETFs through Felix, a trading platform built within the Hyperliquid ecosystem, following an integration announced by Ondo Finance. This is the first time tokenized equity assets in spot format have been available on Felix.
The available assets include exposure to individual companies such as Apple, Nvidia, and Tesla, as well as index products like the Nasdaq-100 and commodity-linked tokens for gold and silver. Each token is fully backed by the corresponding underlying asset held off-chain, and provides users with economic exposure to price movements and dividends of the original security.
What Are Ondo Tokenized Stocks and How Do They Work?
Tokenized securities are blockchain-based digital assets that track the price of traditional stocks or ETFs on-chain. They are not the same as buying shares directly through a broker. Ondo Finance structures its products as equity-linked notes tied to the underlying shares, which means they are treated as structured financial instruments rather than direct equity holdings.
The practical difference matters for anyone comparing on-chain and traditional market access:
- A traditional stock gives you legal ownership of a share, including voting rights and any dividend entitlements
- A tokenized equity-linked note gives you price exposure only, with performance tied to the underlying share
- Tokenized securities can be traded, transferred, or used across blockchain-based lending and trading platforms
The technical process starts with tokenization on Ethereum through Ondo Global Markets. Felix then bridges those assets into the Hyperliquid ecosystem, where they trade alongside crypto-native markets.
Ondo Global Markets by the Numbers
Since launching in September 2025, Ondo Global Markets has become the largest tokenized securities platform globally, with over $700 million in total value locked, more than all other platforms in the sector combined. It has processed over $13 billion in cumulative trading volume for more than 60,000 holders.
What Assets Are Now Available on Felix?
The Ondo catalog available through Felix covers a broad range of traditional market exposure in a single on-chain interface. Users can access spot positions across equities, index ETFs, and commodity-linked tokens.
Equities available include some of the most traded names in global markets:
- Apple, Nvidia, Tesla, Alphabet, Microsoft, Amazon, Meta, and AMD
Index ETF exposure includes products such as the SPDR S&P 500 ETF (SPY), Invesco QQQ Trust tracking the Nasdaq-100, iShares Core S&P 500 ETF, iShares Russell 2000 ETF, and iShares Core S&P Total U.S. Stock Market ETF.
Commodity-linked tokens include the iShares Gold Trust and iShares Silver Trust, giving traders access to gold and silver price exposure from the same interface used for crypto.
Felix operates with 24-hour availability, five days a week. Charlie, co-founder of Felix, described the setup as combining deep liquidity with a brokerage-style experience on-chain, while reducing the friction users typically face when moving between crypto and traditional financial systems.
Why Does the Hyperliquid Ecosystem Matter for Tokenized Stocks?
Hyperliquid had already established a connection between crypto trading hours and traditional market pricing before this integration. Its weekend markets for equity and commodity derivatives drew attention after traders observed that prices on the platform often anticipated Monday's opening prices in traditional markets.
The addition of tokenized spot positions through Felix deepens that price discovery function. Instead of only trading derivatives that reference equity prices, users can now hold spot positions in tokenized stocks directly on-chain, without needing to exit to a traditional brokerage.
“This integration brings hundreds of Ondo tokenized stocks and ETFs to the Hyperliquid ecosystem through Felix,” said Ian De Bode, President of Ondo Finance. “One of crypto's most active trading ecosystems can now access spot positions on tokenized stocks that inherit the deep liquidity of traditional markets.”
Upcoming Features on Felix
Future updates to Felix are planned to extend the functionality of Ondo tokenized stocks beyond basic spot trading. Confirmed additions include:
- Limit orders across tokenized assets
- Dollar-cost averaging strategies
- The ability to use tokenized securities as collateral
Ondo's Broader Expansion Across Exchanges
The Felix integration is part of a wider push by Ondo Finance to place its tokenized securities across multiple trading venues. About a week before the Hyperliquid announcement, Bitget added a batch of Ondo Global Markets tokenized securities to its spot market, covering major US equities, index ETFs, and precious metals. All products trade through a single USDT-based account on a 24/7 basis on Bitget's centralized exchange interface.
Earlier in March, Ondo's tokenized stocks including Apple, Nvidia, and Tesla received regulatory approval from Abu Dhabi's Financial Services Regulatory Authority (FSRA) to trade on Binance's FSRA-regulated Multilateral Trading Facility (MTF).
An MTF is a regulated venue where buyers and sellers can trade financial instruments, similar in function to a stock exchange. This was the first time the Abu Dhabi Global Market (ADGM) approved tokenized securities trading under its own regulatory framework. The approved products are available to non-US users only.
Ethereum continues to serve as the core infrastructure layer for these integrations. Assets are tokenized on Ethereum through Ondo Global Markets before being bridged to platforms like Hyperliquid, Bitget, and Binance's regulated MTF.
Conclusion
Felix now gives Hyperliquid users spot access to over 260 Ondo tokenized stocks and ETFs, covering major US equities, index funds, and commodity-linked tokens. The assets are tokenized on Ethereum, bridged via Felix, and trade with 24/5 availability. Planned updates will add limit orders, dollar-cost averaging, and collateral functionality for tokenized securities within the platform.
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Blog article by Ondo Finance: Hyperliquid Ecosystem Gains Access to 260+ Ondo Tokenized Stocks via Felix
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Blog article by Ondo Finance: Ondo Tokenized Stocks Are Now Live on Bitget’s CEX
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Ondo Finance on X: Post on March 3
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Report by CoinDesk: Ondo Finance tokenized stocks platform on Binance wins regulatory approval in Abu Dhabi