> ## Documentation Index
> Fetch the complete documentation index at: https://yieldxyz.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Tokenized Stocks

> Tokenized equity exposure is coming to Trade; no API is available for it yet.

<Badge color="yellow">Upcoming</Badge>

<Warning>
  Tokenized Stocks is upcoming and not available through any yield.xyz API today. This page describes what's confirmed so far; API and eligibility details will be documented when the product ships.
</Warning>

Tokenized Stocks will add tokenized equity exposure, on-chain positions that track a real stock, to Trade. Whether a specific product requires off-chain identity verification (KYC) will depend on the underlying product and its issuer, and will be documented per product once available.

## How Tokenized Stocks differs from RWAs

Yield-bearing real-world-asset products (Treasury funds, money-market funds, private credit) are already live through Earn: see [Real-world assets](/documentation/earn/rwas/index). Those are yield opportunities entered and exited through the Yield API.

Tokenized Stocks is a different product: equity exposure, not a yield-bearing position. Classification follows the product, not the issuer, so the same issuer can offer one product through Earn's RWA coverage and a separate product through Trade's Tokenized Stocks once it ships.

## Boundary with Perps

Hyperliquid's HIP-3 builder-deployed markets can track an equity's price as a perpetual futures contract. Those markets are [Perps](/documentation/trade/perps), not Tokenized Stocks: a perpetual contract gives directional price exposure with no share ownership, regardless of what price it tracks.

## Next steps

<Columns cols={2}>
  <Card title="Trade overview" icon="chart-line" href="/documentation/trade/index">
    See what's live in Trade today.
  </Card>

  <Card title="Perps" icon="chart-candlestick" href="/documentation/trade/perps">
    The live product for perpetual futures, including equity-tracking HIP-3 markets.
  </Card>

  <Card title="Real-world assets" icon="building-columns" href="/documentation/earn/rwas/index">
    Yield-bearing RWA products available today through Earn.
  </Card>
</Columns>


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