The tokenization platform xStocks introduces a new on-chain private equity fund

According to Cointelegraph, the tokenized stock platform xStocks has partnered with alternative investment company Fundrise to put its newly listed Fundrise Innovation Fund on-chain.

It is reported that the closed-end fund's portfolio includes private stocks from tech companies such as Anthropic, Databricks, and SpaceX. Just a few days after its listing on March 19, the price skyrocketed from the initial $31 per share to $575.

However, short-selling firms pointed out that Fundrise may be under investigation by the SEC due to its paid solicitation activities. The stock closed at $173 this week, dropping nearly 34% on Friday, and fell another 5.9% in after-hours trading.