Tokenized stocks rival Bitcoin spot depth on Bitget exchange

The analysis highlights that liquidity for synthetic exposure—including Nvidia stock, the SPDR S&P 500 ETF, and gold—has matured significantly throughout 2026. As of mid-May, the NVDA-USDT perpetual contract achieved substantial resting liquidity within 2% of its mid-price, trailing the $5.5 million depth of the BTC/USDT spot market by a narrow margin. Bitget CEO Gracy Chen noted that the industry conversation has shifted from mere access to the efficiency of capital movement, with traders now demanding parity in speed and depth between crypto and traditional equity markets.

Since launching these products in September 2025, Bitget has expanded its catalog to over 30 equity-linked contracts. Observational data suggests that market efficiency follows traditional U.S. trading hours, with bid-ask spreads for assets like SPY-USDT tightening from 1.76 basis points to 0.14 basis points within an hour of the market open. Even amid the geopolitical volatility triggered by the U.S.-Iran conflict in February 2026, these markets demonstrated resilience. While spreads for assets like QQQ-USDT spiked briefly, they largely returned to baseline levels within hours, signaling that tokenized perpetuals are successfully absorbing shock while maintaining operational stability outside standard market hours.