The size of it
Both totals published by rwa.xyz, read 2 September 2026, stamped by them 1 September 2026. Seven times apart, and the difference is only whether the token can move. Neither number is wrong. Most reporting picks one and does not say which.
The problem
A token called AAPL is not Apple. It is a claim against a legal wrapper, and the wrapper decides whether you can redeem, whether you receive the dividend, whether you vote, what happens in a corporate action, and where you rank if the issuer fails.
The same ticker exists in several wrappers at once. They do not agree with each other. Almost nobody checks, because the answer sits in a filing or a PDF rather than on the page where the token is sold. The buyer who checks first knows which version of the same ticker actually pays the dividend. The one who does not is guessing.
What the record has found
The claim that can lapse
The prospectus behind the 737 xStocks states, twice, that a holder who does not answer an information request in time loses the claim their token represents. Read 26 August 2026.
Not all stocks are stocks
46 of the 737 xStocks track a fund rather than a share and pass through its costs, stated at 0.03% to 2.38% a year. Nothing on the product pages presents them differently. Read 26 August 2026.
The unnamed agent
The best disclosure in the sector still does not name its security agent or state what a holder recovers on insolvency. The record says not disclosed, because that is the answer the documents leave a holder with. Read 24 August 2026.
Every finding, dated and quoted. · The venue map: where every recorded token trades, drawn.
What is coming
Tokenised stocks, each on its own page
Every recorded version of the same ticker, side by side: who issued it, what its holder actually owns, and what has been seen but not yet read. Browse the record.
A watch on what you hold
Corporate actions, payouts, terms that quietly change. Sent to you when they happen, not when you go looking. The engine behind it already runs: every source document in the record is re-fetched and hash-checked weekly, and any change is reviewed by a person.
Access for your agent
The same record, readable by the AI acting for you, so it checks before it buys.
You will hear when each piece lands, and what the record finds on the way. Your email is used for that and nothing else. Privacy.
Method
Every field is a stored assertion with a source, a date and the exact sentence that supports it. Nothing is modelled, averaged or carried forward. Where two sources disagree we publish both and name them, because the disagreement is the thing being measured.
Where no document discloses an answer, we say so. A blank is a finding, and it is a different answer from one we have not looked for yet.
Automated trading
An agent resolving an asset by its ticker finds several tokens and no way to rank them. It cannot see which one is canonical, that a corporate action has moved a multiplier and the supply it just read is wrong, or that the wrapper it is about to buy carries no claim on the underlying at all. It will trade anyway. That is what it is for.
The documents that would tell it otherwise are largely not machine readable. One issuer's terms refuse any automated reader outright. Another has served an empty page for seventeen months. A third states its issuing entity once, inside a script bundle. A fourth published its wrapper agreements and then removed them, and they survive only in a web archive. We record what each of those does. We do not say why.
An agent reading only what is discoverable would, for most of these products, conclude the holder owns something they do not.
XRADE answers unknown rather than estimating. For a person that is an inconvenience. For a machine it is the difference between stopping and acting on a number invented to fill a field.
If you are building agents that touch tokenised assets, tell us what you need and we will prioritise it.
One reading
Read from the fund's own Form D filings. The holder count fell while the fund grew. A tracker that overwrites each filing with the latest one shows 28 and nothing else.
Currently measuring
In build
- canton.botCanton Network
Each site reads one network on its own schedule, from its own sources. XRADE is the record that sits across them, because a single network cannot show you what the same asset looks like somewhere else.
Contact
If any of this is close to what you are working on, we would like to hear from you.