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	$180.29亿	-11.59%	86.7%	86.7%
2	HTX 火币huobi	$26.21亿	0.44%	68.6%	68.6%
3	Binance 币安网	$398.07亿	-7.97%	85.4%	85.4%
4	Coinbase Coinbase	$9.22亿	-15.04%	69.3%	69.3%
5	Bybit Bybit	$107.83亿	-6.92%	65.3%	65.3%
6	Crypto.com Crypto.com	$12.11亿	-8.49%	53.3%	53.3%
7	Bitfinex Bitfinex	$2.11亿	19.49%	65.3%	65.3%
8	Kraken K网(Kraken)	$7.24亿	-8.59%	68.4%	68.4%
9	Upbit Upbit	$2.83亿	-20.77%	56.9%	56.9%
10	Bitget Bitget	$73.61亿	0.5%	71.1%	71.1%
11	Deribit Deribit	$4.33亿	5.48%	36.2%	36.2%
12	Gemini 双子星（Gemini）	$2,977.09万	-18.46%	59.5%	59.5%
13	BiKing 币王	$212.75亿	-0.43%	31%	31%
14	MEXC MEXC	$113.50亿	1.28%	76.2%	76.2%
15	Bithumb Bithumb	$1.45亿	-9.25%	66.9%	66.9%
16	gate.io 大门	$108.36亿	-12.23%	55.2%	55.2%
17	BitTap 币泰	$11.83亿	-6.58%	26%	26%
18	Hyperliquid Hyperliquid	$15.82亿	26.08%	46.9%	46.9%
19	Uniswap v3 (Base) Uniswap v3 (Base)	$1.09亿	-10.59%	31.5%	31.5%
20	bitFlyer bitFlyer	$1,629.75万	-21.2%	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	$ 80301	$8.19万	$8.02万	$2.66亿	$1.60兆	-1.2%	-1.2%
2	ETH 以太坊	$ 2577.81	$2,668.81	$2,564.58	$2.66亿	$3,111.25亿	-1.83%	-1.83%
3	XRP 瑞波币	$ 1.3735	$1.45	$1.37	$6,464.67万	$836.70亿	-2.95%	-2.95%
4	BNB 币安币	$ 750	$773.70	$746.30	$1,271.35万	$1,022.70亿	-1.6%	-1.6%
5	USDC USD Coin	$ 1.0002	$1.00	$1.00	$2,981.15万	$707.29亿	0%	0%
6	SOL Solana	$ 108.05	$113.73	$107.41	$8,843.21万	$612.15亿	-4.92%	-4.92%
7	TRX 波场	$ 0.3396	$0.34	$0.34	$191.72万	$321.66亿	0.23%	0.23%
8	DOGE 狗狗币	$ 0.08539	$0.09	$0.09	$2,689.01万	$143.65亿	-3.21%	-3.21%
9	BCH 比特现金	$ 244.68	$257.48	$243.28	$375.31万	$48.88亿	-4.93%	-4.93%
10	HYPE Hyperliquid	$ 90.05	$94.38	$89.91	$2,269.42万	$305.58亿	-4.5%	-4.5%
11	ADA 艾达币	$ 0.22045	$0.23	$0.22	$1,373.34万	$79.25亿	-5.59%	-5.59%
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	$ 12.005	$12.69	$11.93	$1,053.83万	$81.41亿	-3.6%	-3.6%
15	XLM 恒星币	$ 0.18994	$0.20	$0.19	$463.96万	$61.57亿	-2.83%	-2.83%
16	LTC 莱特币	$ 56.86	$59.20	$56.53	$898.56万	$43.62亿	-3.34%	-3.34%
17	HBAR Hedera Hashgraph	$ 0.07993	$0.08	$0.08	$123.72万	$34.20亿	0.27%	0.27%
18	ZEC 大零币	$ 1461.59	$1,595.75	$1,441.66	$2,838.51万	$240.82亿	-5.95%	-5.95%
19	AVAX Avalanche	$ 9.504	$10.82	$8.36	$1,602.96万	$40.89亿	11.13%	11.13%
20	SHIB Shiba Inu	$ 0.000005368	$0.00	$0.00	$84.35万	$31.63亿	-2.02%	-2.02%
21	SUI Sui	$ 0.8211	$0.89	$0.81	$1,566.06万	$31.14亿	-0.84%	-0.84%
22	CRO Cronos	$ 0.05841	$0.06	$0.06	$55.83万	$22.55亿	-1.84%	-1.84%
23	WLFI worldlibertyfinancial-education	$ 0.05768	$0.06	$0.06	$57.53万	$15.42亿	-2.27%	-2.27%
24	UNI Uniswap	$ 8.65	$9.49	$8.46	$2,394.04万	$54.94亿	-5.37%	-5.37%
25	DOT 波卡币	$ 1.082	$1.15	$1.07	$294.32万	$17.89亿	-5.92%	-5.92%
26	MNT Mantle	$ 0.6044	$0.65	$0.60	$44.40万	$19.66亿	-3.1%	-3.1%
27	PAXG PAX Gold	$ 4360.27	$4,369.94	$4,360.27	$28.84万	$16.61亿	-0.18%	-0.18%
28	ASTER Aster	$ 0.7361	$0.79	$0.73	$571.84万	$18.37亿	-6.58%	-6.58%
29	AAVE Aave	$ 137.51	$147.00	$136.85	$563.87万	$21.06亿	-6.09%	-6.09%
30	HTX HTX	$ 0.0000017059	$0.00	$0.00	$3,362.50	$17.06亿	0.17%	0.17%
31	TAO Bittensor	$ 253.14	$273.48	$251.57	$665.11万	$26.75亿	-1.84%	-1.84%
32	OKB OK币	$ 115.41	$123.41	$114.40	$663.55万	$24.24亿	-1.82%	-1.82%
33	PEPE Pepe	$ 0.00000394	$0.00	$0.00	$1,151.90万	$16.58亿	4.31%	4.31%
34	ETC 以太经典	$ 8.239	$8.79	$8.13	$92.10万	$12.77亿	-1.13%	-1.13%
35	NEAR NEAR Protocol	$ 3.515	$3.83	$3.41	$3,159.00万	$45.15亿	-7.69%	-7.69%
36	ICP Internet Computer(Dfinity)	$ 2.753	$2.97	$2.74	$73.31万	$15.04亿	-4.5%	-4.5%
37	PI Pi Network	$ 0.08351	$0.09	$0.08	$57.24万	$7.00亿	-3.21%	-3.21%
38	WLD Worldcoin	$ 0.4225	$0.44	$0.41	$1,033.75万	$11.43亿	-2.33%	-2.33%
39	ATOM 阿童木	$ 1.702	$1.77	$1.67	$14.95万	$8.29亿	-3.13%	-3.13%
40	FDUSD First Digital USD	$ 0.9993	$1.00	$1.00	$392.38万	$9.83亿	-0.01%	-0.01%
41	ENA Ethena	$ 0.19234	$0.22	$0.17	$1,584.93万	$15.31亿	6.92%	6.92%
42	USDD USDD	$ 0.9984	$1.00	$1.00	$3,294.27	$8.54亿	0.01%	0.01%
43	KAS Kaspa	$ 0.03798	$0.04	$0.04	$235.56万	$10.29亿	-1.86%	-1.86%
44	QNT Quant	$ 64.8	$66.49	$63.10	$9.75万	$7.82亿	1.85%	1.85%
45	ALGO Algorand	$ 0.1032	$0.11	$0.10	$129.63万	$9.12亿	5.77%	5.77%
46	FLR Flare	$ 0.006455	$0.01	$0.01	$17.74万	$5.34亿	-2.21%	-2.21%
47	XDC XDC Network	$ 0.02777	$0.03	$0.03	$27.11万	$5.30亿	-0.32%	-0.32%
48	APT Aptos	$ 0.7136	$0.78	$0.69	$352.55万	$5.36亿	-6.1%	-6.1%

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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