Galaxy：SEC 新规对第三方代币化股票设限，Robinhood 现有模式不符合要求

【Galaxy：SEC 新规对第三方代币化股票设限，Robinhood 现有模式不符合要求】金色财经报道，9月20日，Galaxy Research 研究主管 Alex Thorn 表示，美国 SEC 最新代币化证券创新豁免虽然允许第三方代币化股票，但适用范围比目前市场所称的“第三方代币化”更窄。符合条件的代币必须代表真实的 NMS 股票，并赋予持有人完整的法律、经济和治理权利；仅提供股票价格敞口的票据、掉期、SPV 权益或其他包装证券均不符合条件。Thorn 指出，Robinhood、Ondo 和 xStocks 等目前市场上的部分第三方代币化股票模式与这一标准存在差异。其中 Robinhood Stock Tokens 被其自身定义为提供经济敞口的“代币化债务证券”，持有人不拥有标的公司的法律或受益所有权，因此不符合此次 SEC 豁免条件。(2026-09-20 10:12:38)

排名	#	交易平台	24H成交额	成交涨跌幅	活跃度
1	OKX 欧易OKX	$186.68亿	-11.59%	86.7%	86.7%
2	HTX 火币huobi	$26.83亿	0.45%	68.6%	68.6%
3	Binance 币安网	$409.98亿	-8.07%	85.4%	85.4%
4	Coinbase Coinbase	$9.34亿	-14.87%	69.3%	69.3%
5	Bybit Bybit	$109.80亿	-6.67%	65.3%	65.3%
6	Crypto.com Crypto.com	$12.12亿	-8.45%	53.3%	53.3%
7	Bitfinex Bitfinex	$2.03亿	19.22%	65.3%	65.3%
8	Kraken K网(Kraken)	$7.52亿	-8.88%	68.4%	68.4%
9	Upbit Upbit	$2.79亿	-20.71%	56.9%	56.9%
10	Bitget Bitget	$71.74亿	0.51%	71.1%	71.1%
11	Deribit Deribit	$4.39亿	5.5%	36.2%	36.2%
12	Gemini 双子星（Gemini）	$2,998.53万	-17.94%	59.5%	59.5%
13	BiKing 币王	$222.15亿	-0.42%	31%	31%
14	MEXC MEXC	$112.08亿	1.26%	76.2%	76.2%
15	Bithumb Bithumb	$1.39亿	-9.26%	66.9%	66.9%
16	gate.io 大门	$107.40亿	-12.16%	55.2%	55.2%
17	BitTap 币泰	$12.02亿	-6.39%	26%	26%
18	Hyperliquid Hyperliquid	$16.16亿	26.7%	46.9%	46.9%
19	Uniswap v3 (Base) Uniswap v3 (Base)	$1.12亿	-10.52%	31.5%	31.5%
20	bitFlyer bitFlyer	$1,672.46万	-21.14%	58.2%	58.2%

排名	#	币种	最新价	24H最高	24H最低	24H量	流通市值	24H涨跌幅
1	BTC 比特币	$ 80404	$8.19万	$8.01万	$2.71亿	$1.61兆	-0.91%	-0.91%
2	ETH 以太坊	$ 2585.41	$2,668.81	$2,564.58	$2.71亿	$3,120.42亿	-1.37%	-1.37%
3	XRP 瑞波币	$ 1.3786	$1.45	$1.37	$6,539.92万	$839.81亿	-2.21%	-2.21%
4	BNB 币安币	$ 751.6	$773.70	$746.30	$1,291.85万	$1,024.88亿	-1.14%	-1.14%
5	USDC USD Coin	$ 1.0003	$1.00	$1.00	$2,986.18万	$707.36亿	0.01%	0.01%
6	SOL Solana	$ 108.46	$113.49	$107.41	$8,902.44万	$614.47亿	-4.27%	-4.27%
7	TRX 波场	$ 0.3395	$0.34	$0.34	$195.22万	$321.57亿	0.17%	0.17%
8	DOGE 狗狗币	$ 0.08574	$0.09	$0.08	$2,703.20万	$144.24亿	-2.37%	-2.37%
9	BCH 比特现金	$ 245.8	$257.22	$243.28	$384.19万	$49.11亿	-3.86%	-3.86%
10	HYPE Hyperliquid	$ 90.74	$93.97	$89.66	$2,290.95万	$307.92亿	-3.27%	-3.27%
11	ADA 艾达币	$ 0.22188	$0.23	$0.22	$1,373.67万	$79.77亿	-4.01%	-4.01%
12	WBTC Wrapped Bitcoin	$ 80430.5	$8.17万	$8.04万	$105.42	$103.69亿	-1.14%	-1.14%
13	LEO UNUS SED LEO	$ 8.904	$8.96	$8.90	$2,456.65	$82.07亿	0.04%	0.04%
14	LINK ChainLink	$ 12.072	$12.69	$11.93	$1,055.34万	$81.86亿	-2.49%	-2.49%
15	XLM 恒星币	$ 0.19064	$0.20	$0.19	$464.36万	$61.79亿	-1.7%	-1.7%
16	LTC 莱特币	$ 57.25	$59.20	$56.53	$909.65万	$43.92亿	-2.42%	-2.42%
17	HBAR Hedera Hashgraph	$ 0.08032	$0.08	$0.08	$127.48万	$34.37亿	1.24%	1.24%
18	ZEC 大零币	$ 1455.7	$1,595.75	$1,441.66	$2,814.29万	$239.85亿	-5.39%	-5.39%
19	AVAX Avalanche	$ 9.587	$10.82	$8.36	$1,598.48万	$41.25亿	12.84%	12.84%
20	SHIB Shiba Inu	$ 0.000005394	$0.00	$0.00	$84.64万	$31.78亿	-1.2%	-1.2%
21	SUI Sui	$ 0.8251	$0.89	$0.81	$1,567.46万	$31.29亿	0.42%	0.42%
22	CRO Cronos	$ 0.05854	$0.06	$0.06	$55.09万	$22.60亿	-1.16%	-1.16%
23	WLFI worldlibertyfinancial-education	$ 0.05791	$0.06	$0.06	$57.28万	$15.48亿	-1.07%	-1.07%
24	UNI Uniswap	$ 8.704	$9.49	$8.46	$2,385.10万	$55.29亿	-3.01%	-3.01%
25	DOT 波卡币	$ 1.0857	$1.15	$1.07	$293.21万	$17.95亿	-4.49%	-4.49%
26	MNT Mantle	$ 0.6058	$0.65	$0.60	$44.30万	$19.71亿	-2.36%	-2.36%
27	PAXG PAX Gold	$ 4360.27	$4,369.94	$4,360.27	$28.52万	$16.61亿	-0.18%	-0.18%
28	ASTER Aster	$ 0.7393	$0.78	$0.73	$570.19万	$18.45亿	-5.59%	-5.59%
29	AAVE Aave	$ 137.55	$147.00	$136.78	$564.40万	$21.06亿	-4.86%	-4.86%
30	HTX HTX	$ 0.0000017059	$0.00	$0.00	$3,362.50	$17.06亿	0.17%	0.17%
31	TAO Bittensor	$ 254.11	$273.48	$251.07	$668.05万	$26.85亿	-1.23%	-1.23%
32	OKB OK币	$ 115.57	$123.41	$114.40	$673.07万	$24.27亿	-1.26%	-1.26%
33	PEPE Pepe	$ 0.00000396	$0.00	$0.00	$1,157.05万	$16.66亿	5.54%	5.54%
34	ETC 以太经典	$ 8.283	$8.79	$8.13	$92.19万	$12.84亿	0.16%	0.16%
35	NEAR NEAR Protocol	$ 3.557	$3.82	$3.41	$3,226.31万	$45.69亿	-6.56%	-6.56%
36	ICP Internet Computer(Dfinity)	$ 2.776	$2.97	$2.74	$73.20万	$15.16亿	-3.07%	-3.07%
37	PI Pi Network	$ 0.08379	$0.09	$0.08	$57.93万	$7.02亿	-2.7%	-2.7%
38	WLD Worldcoin	$ 0.4268	$0.44	$0.41	$1,041.27万	$11.55亿	-0.69%	-0.69%
39	ATOM 阿童木	$ 1.71	$1.77	$1.67	$14.97万	$8.32亿	-2.5%	-2.5%
40	FDUSD First Digital USD	$ 0.9993	$1.00	$1.00	$391.03万	$9.83亿	-0.01%	-0.01%
41	ENA Ethena	$ 0.19561	$0.22	$0.17	$1,603.56万	$15.57亿	8.98%	8.98%
42	USDD USDD	$ 0.9982	$1.00	$1.00	$1.13万	$8.54亿	-0.01%	-0.01%
43	KAS Kaspa	$ 0.03844	$0.04	$0.04	$235.18万	$10.41亿	-0.69%	-0.69%
44	QNT Quant	$ 64.88	$66.49	$63.10	$9.43万	$7.83亿	2.14%	2.14%
45	ALGO Algorand	$ 0.10413	$0.11	$0.10	$131.20万	$9.20亿	7.87%	7.87%
46	FLR Flare	$ 0.006473	$0.01	$0.01	$17.54万	$5.35亿	-1.86%	-1.86%
47	XDC XDC Network	$ 0.02782	$0.03	$0.03	$27.21万	$5.31亿	0.1%	0.1%
48	APT Aptos	$ 0.7199	$0.78	$0.69	$349.08万	$5.41亿	-5.56%	-5.56%

Galaxy：SEC 新规对第三方代币化股票设限，Robinhood 现有模式不符合要求

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