The Register · tokenized HIMS
What a tokenized HIMS holder owns
5 tokens issued by 5 programs track Hims & Hers Health. They share a ticker and little else. 5 are on file; each row below links the file with the issuer’s own words.
What the holder owns
One version on file gives the holder a claim on a real share that a custodian holds, not the share in the holder’s own name, and no vote: bStocks. 4 versions are notes or swaps that pay like the share and carry no rights in it: Ondo Global Markets, Robinhood Stock Tokens, rTokens, Dinari dShares. None gives the holder the Hims & Hers Health share itself, and none carries SIPC protection in the wallet.
Who may hold it
No version on file is offered to US persons.
Who can freeze it
In 2 of the 5 programs with a readable contract, one private key can freeze, pause, or claw back holders’ tokens, or grant that power: Robinhood Stock Tokens, Dinari dShares.
Every version, side by side
| Version | What the holder has | Control | ||||
|---|---|---|---|---|---|---|
| Token | Program | Owns | Who may hold | Exit | Freeze key held by | Market cap |
| HIMSon | Ondo Global Markets | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | An account only a program can sign for | $30M |
| HIMS | Robinhood Stock Tokens | Third-party synthetic | Not offered to US persons | Secondary market only; no issuer redemption | A single key | $4M |
| RHIMS | rTokens | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | A power exists; its holder was not read | $96K |
| HIMS | Dinari dShares | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | A contract run by a single key | $13K |
| HIMSB | bStocks | Third-party custodial | Not offered to US persons | Redeem in kind | A power exists; its holder was not read | None stated |
Market cap is CoinGecko’s figure on 2026-09-24, for the token itself, not the share it tracks. “Freeze key held by” names the weakest key that can freeze, pause, or claw back a holder, or grant that power, read from the chain.
What the difference means
- Third-party synthetic
- A note or swap that pays like the security and carries no rights in it. Ondo Global Markets, Robinhood Stock Tokens, rTokens, Dinari dShares.
- Third-party custodial
- A custodian’s security entitlement formatted as a token; the claim runs against the intermediary. bStocks.