Overview

Bybit announced an extension of its Dual Asset structured‑yield platform by adding four new tokenised equity instruments, known as xStocks. The move increases the number of supported xStocks from six to ten, giving users broader short‑term exposure to tokenised shares through a yield‑focused structure rather than outright ownership.

New xStocks Added

The freshly listed pairs are:

  • METAXUSDT – linked to Meta Platforms Inc.
  • TSLAXUSDT – linked to Tesla Inc.
  • HOODXUSDT – linked to Robinhood Markets Inc.
  • CRCLXUSDT – linked to Circle Internet Financial Ltd. These additions sit alongside the existing six xStocks that already feed the Dual Asset product: SpaceX, Nvidia, Apple, Alphabet (Google), Coinbase and Amazon.

Bybit noted that among the previously available names, Nvidia‑linked xStocks have drawn the strongest user interest, while SpaceX has generated the highest trading volume.

How the Dual Asset Product Works

Dual Asset is a non‑principal‑protected instrument. Participants choose an asset pair, define an investment horizon, and set a target price. They then subscribe to a contract that promises a predetermined fixed return. At maturity, the settlement asset is determined by the performance of the underlying xStock relative to the target price. If the xStock’s price meets or exceeds the target, the payout may be delivered in the originally selected asset; otherwise, the alternative asset in the pair could be used. Consequently, the return does not stem merely from holding the tokenised equity—it is contingent on price movement and settlement mechanics.

Risk Considerations and Eligibility

Because the product does not protect the principal, investors face both price risk and settlement‑asset risk. The final payout could be in a different token than the one initially chosen, exposing traders to additional market fluctuations. Bybit’s announcement advises users to review the detailed risk factors before committing funds. Eligibility for the Dual Asset xStocks mirrors the criteria applied to the xStocks themselves, meaning that regional restrictions—such as those affecting residents of the United States and the United Kingdom—remain in force.

Market Context and Growth of Tokenised Equities

Research from CEX.IO estimates the tokenised‑equity market to be worth roughly $1.48 billion with about 352,000 wallets active by mid‑2026. This represents a 114 % increase in market value and a 188 % rise in wallet count since the start of the year. Although still smaller than the stablecoin or tokenised sovereign‑debt segments, the rapid expansion underscores why exchanges are building new products around tokenised stocks.

Implications for Traders

Bybit claims to be the first centralized exchange to employ xStocks as underlying assets for a structured‑yield offering. The architecture creates a layer of separation: a public‑company share, the corresponding xStock that mirrors its equity exposure, and the Dual Asset contract that references the xStock for settlement. Understanding this hierarchy is essential for traders assessing what they actually hold and the legal rights attached to each instrument.

Overall, the addition of Meta, Tesla, Robinhood and Circle expands the thematic coverage of the Dual Asset product to include artificial‑intelligence, electric‑vehicle, retail‑brokerage and stablecoin‑infrastructure sectors, providing traders with more diversified short‑term yield opportunities—albeit with clear risk disclosures.