The Register · tokenized TSLA
What a tokenized TSLA holder owns
9 tokens issued by 9 programs track Tesla, Inc.. They share a ticker and little else. 9 are on file; each row below links the file with the issuer’s own words.
What the holder owns
3 versions on file give 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, Coinbase Tokenized Stock, Anchored aStocks. 6 versions are notes or swaps that pay like the share and carry no rights in it: xStocks, Ondo Global Markets, Robinhood Stock Tokens, rTokens, Dinari dShares, bTokens. None gives the holder the Tesla, Inc. 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 5 of the 9 programs with a readable contract, one private key can freeze, pause, or claw back holders’ tokens, or grant that power: xStocks, Robinhood Stock Tokens, Coinbase Tokenized Stock, Dinari dShares, bTokens.
Every version, side by side
| Version | What the holder has | Control | ||||
|---|---|---|---|---|---|---|
| Token | Program | Owns | Who may hold | Exit | Freeze key held by | Market cap |
| TSLAx | xStocks | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | A single key | $72M |
| TSLAB | bStocks | Third-party custodial | Not offered to US persons | Redeem in kind | A power exists; its holder was not read | $20M |
| TSLAON | 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 | $17M |
| TSLA | Robinhood Stock Tokens | Third-party synthetic | Not offered to US persons | Secondary market only; no issuer redemption | A single key | $5M |
| RTSLA | rTokens | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | A power exists; its holder was not read | $4M |
| TSLAC | Coinbase Tokenized Stock | Third-party custodial | Not offered to US persons | Redeem in kind | A single key | $1M |
| TSLA | Dinari dShares | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | A contract run by a single key | $643K |
| ATSLA | Anchored aStocks | Third-party custodial | Not offered to US persons | Redeem with the issuer in its window | No freeze or claw-back power read | $11K |
| bTSLA | bTokens | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | A single key | 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. xStocks, Ondo Global Markets, Robinhood Stock Tokens, rTokens, Dinari dShares, bTokens.
- Third-party custodial
- A custodian’s security entitlement formatted as a token; the claim runs against the intermediary. bStocks, Coinbase Tokenized Stock, Anchored aStocks.