Bybit has expanded its Dual Asset earning product to include four new tokenized stocks: Tesla (TSLAX), Meta (METAX), Circle (CRCLX) and Robinhood (HOODX), bringing the total number of tradable xStocks available on the feature to 10. Dual Asset lets users deposit one asset and earn a yield that settles in either that asset or a paired one depending on price movement at expiry, a structure exchanges have increasingly extended from crypto pairs into tokenized equities.
The expansion places Bybit further into a tokenized-stock category that has grown quickly enough to draw in most major exchanges at once. xStocks, the token standard behind Bybit's listings, is built through a partnership between Kraken and Backed and has become the dominant provider in the space, crossing $25 billion in total transaction volume in under eight months and capturing the large majority of tokenized-equity trading volume on Solana.
Yield products meet equity exposure
Layering a yield-bearing structured product on top of tokenized stock exposure is a notable step beyond simple spot trading, since it lets users earn a return on their Tesla or Meta exposure without needing to actively trade the position, an approach more commonly seen with volatile crypto pairs than with equity-linked tokens. Bybit did not disclose the specific yield rates offered on the newly added Dual Asset pairs or how they compare to the yields on its existing six xStocks offerings.
Competing for a fast-growing category
Bybit's move follows a broader industry pattern of exchanges racing to add tokenized equities and layer additional product types, such as options, staking and now dual-currency yield, on top of them, as the underlying tokenized stock spot market has grown to roughly $487 million by the end of the first quarter of 2026 and continues expanding as more exchanges compete for the same trading volume.
