Alpaca, a US-headquartered provider of brokerage infrastructure APIs, has announced it commands a 94% market share in tokenized US stocks and exchange-traded funds (ETFs), overseeing $480 million in tokenized assets under custody (AUC).
The company further reports a 97% market share in tokenized large and mega-cap US stocks, accounting for $217 million in AUC. Among its tokenized assets, TSLA, SPY, QQQ, NVDA, and IVV represent the top five, collectively holding over $150 million in on-chain value.
These figures underscore Alpaca’s contributions to establishing infrastructure standards for on-chain markets. As a self-clearing broker-dealer, Alpaca offers embeddable finance solutions including access to crypto, stocks, ETFs, options, and fixed income, along with services like tokenization, fully paid securities lending, high-yield cash, 24/5 trading, and Shariah-compliant investing.
Alpaca’s APIs currently power over 8 million brokerage accounts for hundreds of fintechs and institutions across more than 40 countries, supported by over $170 million in funding. It is noted that geographic restrictions may apply to tokenization services based on local regulatory requirements.
Alpaca Crypto LLC and Alpaca Securities LLC are not directly involved in the issuance or tokenization of any assets; this process is facilitated by a third party. Tokenized assets typically provide economic exposure to the underlying equity securities rather than direct equity ownership. Consequently, holders of tokenized assets generally do not possess voting rights, dividend entitlements, or legal claims to the underlying company shares or residual assets in the event of liquidation or insolvency, unless explicitly stated otherwise.
Cryptocurrency services are managed by Alpaca Crypto LLC, a FinCEN-registered Money Services Business. Securities brokerage services are provided by Alpaca Securities LLC, a member of FINRA and SIPC. Both are subsidiaries of AlpacaDB, Inc., which offers the underlying services and technology, including the brokerage infrastructure API.
