RS Rezo Shmertz
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Tokenized Securities vs Ownership: What Investors Really Own

A sponsored feature on the difference between a token's market exposure and the rights its holder has in the underlying asset.

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CryptoPotato published this as a sponsored third-party feature. The article is not written by Rezo Shmertz.

Coverage

The article discusses direct ownership, interests held through intermediaries and separately issued stock-linked instruments. It features Rezo Shmertz's views on asset wrappers and why transferability, custody and redemption terms need to be examined separately.

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Rights in the underlying asset

Legal rights come from the terms of the instrument, not from the fact that a token can be transferred. Transfer, custody and redemption can differ from one wrapper to another. This page summarizes a sponsored feature. It is not legal advice and it does not describe every tokenized product.

For a related discussion of tokenized stocks and wrappers, see Episode 8. Episode 12 looks at intent-based execution. Company context is on What I Build, with further work in Research and Media.