Kraken Expands Multi-Chain Tokenized Stocks to Ethereum Mainnet

In a significant strategic expansion, cryptocurrency exchange Kraken has extended its tokenized equities offering, xStocks, to Ethereum's mainnet as ERC-20 tokens. This multi-chain push represents a major milestone beyond the platform's previous deployments on Solana, BNB Chain, and TRON networks. The rollout introduces over 60 prominent assets to Ethereum's massive $500 billion ecosystem, including major companies like Apple (AAPLx), Tesla (TSLAx), and the popular SPDR S&P 500 ETF (SPYx). This expansion is backed by Swiss financial firm Backed, which ensures full 1:1 collateralization for all tokenized stocks, providing investors with the security and transparency they expect from traditional equity markets while leveraging blockchain technology. The integration with Ethereum's mainnet unlocks significant DeFi utility for eligible non-U.S. clients, allowing them to potentially use these tokenized stocks as collateral in various decentralized finance protocols, participate in lending markets, and explore innovative financial products that bridge traditional finance with blockchain ecosystems. The move to Ethereum's mainnet is particularly strategic given the network's established infrastructure, extensive developer community, and robust security features. By tapping into Ethereum's mature ecosystem, Kraken positions its xStocks offering to reach a broader audience of crypto-native investors who prefer operating within the Ethereum environment. This expansion demonstrates Kraken's commitment to making traditional financial assets more accessible through blockchain technology while maintaining regulatory compliance by restricting access to non-U.S. clients in accordance with current securities regulations. As of September 2025, this development represents a significant step toward the convergence of traditional finance and decentralized technologies, potentially paving the way for greater institutional adoption of blockchain-based financial instruments and further blurring the lines between conventional stock trading and cryptocurrency markets.

Kraken Expands Tokenized Stocks to Ethereum Mainnet in Multi-Chain Push

Kraken has extended its tokenized equities offering, xStocks, to Ethereum's mainnet as ERC-20 tokens, marking a strategic expansion beyond Solana, BNB Chain, and TRON. The rollout introduces over 60 assets—including Apple (AAPLx), Tesla (TSLAx), and SPYx—to Ethereum's $500B ecosystem, with backing from Swiss firm Backed ensuring 1:1 collateralization.

The integration unlocks DeFi utility for eligible non-U.S. clients, enabling wallet transfers and participation in lending or yield farming. Trading volume for xStocks has already surpassed $3.5B across previous chains, signaling robust demand for hybrid traditional-crypto exposure.

Ethereum Foundation's Strategic ETH Sale Sparks Ecosystem Debate

The ethereum Foundation has triggered a contentious discussion after disclosing plans to liquidate 10,000 ETH through centralized exchanges. The September 2 transparency notice revealed a multi-week selling strategy designed to fund core development initiatives while minimizing market disruption through staggered transactions.

Blockchain analytics firm Lookonchain confirmed the movement of $42.7 million worth of ETH to Kraken, leaving the foundation with a substantial $1.05 billion reserve. Critics argue the foundation should utilize DeFi protocols rather than centralized exchanges, with AaveChan founder Marc Zeller among prominent voices questioning the methodology.

Ethereum Foundation Faces Backlash for 10,000 ETH Sale on Kraken

The Ethereum Foundation has drawn criticism for transferring 10,000 ETH, valued at approximately $42.7 million, to centralized exchange Kraken. The move, intended to fund research, grants, and donations, aligns with the Foundation's treasury policy of maintaining a cash reserve for operational expenses. However, the decision to bypass decentralized finance (DeFi) tools in favor of a centralized platform has sparked debate within the crypto community.

Critics argue that the Ethereum Foundation's reliance on Kraken contradicts its public advocacy for DeFi and decentralization. The Foundation, which manages over $1 billion in ETH, typically liquidates portions of its holdings during market peaks to sustain its financial runway. Yet, the choice of a centralized exchange over decentralized alternatives has highlighted a perceived gap between the organization's principles and its practical decisions.

The backlash underscores broader tensions in the crypto ecosystem, where ideological commitments to decentralization often clash with the convenience and liquidity offered by centralized entities. The Ethereum Foundation's actions may fuel further discussion about the role of institutional players in shaping the future of decentralized technologies.

Institutional Accumulation Signals Potential Bitcoin Rally

Bitcoin's market dynamics are flashing bullish signals as institutional players quietly accumulate supply. Kraken exchange recorded outflows of 65,000 BTC over two days—a MOVE contradicting typical distribution patterns seen at market tops. This accumulation trend, coupled with tightening liquidation levels, positions September as a critical month for Bitcoin's next major price movement.

The current divergence between institutional buying and muted retail participation echoes historical patterns where retail investors typically enter NEAR cycle peaks. Market analysts interpret this as evidence that Bitcoin's bull run may still have significant upside potential. Exchange outflows at this scale suggest strong hands are positioning for higher prices rather than preparing to sell.