Tokenization platform xStocks will launch Fundrise Innovation Fund

PANews reported on March 29th that, according to Cointelegraph, tokenized stock platform xStocks has partnered with alternative investment firm Fundrise to put its newly listed Fundrise Innovation fund on the blockchain. The single-token asset VCXx is expected to launch on the xStocks platform in the coming days.

The closed-end fund's portfolio includes privately held shares of tech companies such as Anthropic, Databricks, and SpaceX. Its price surged from $31 per share at its initial offering price to $575 within days of its March 19th IPO. However, short-selling firms have pointed out that Fundrise may be under investigation by the SEC for paid solicitation activities.