Technology investment platform Fundrise has announced a strategic partnership with crypto exchange Kraken to tokenize shares of its Fundrise Innovation Fund VCX. According to reports from Crowdfund Insider, the deal will see the publicly listed VCX vehicle, which trades on the NYSE, wrapped into a blockchain-based representation on Kraken's tokenized equities venue xStocks under the ticker VCXx. The partnership represents Kraken's first move into tokenized access to a diversified private-tech portfolio, building on xStocks' existing offering of more than 100 fully backed tokenized U.S. stocks and ETFs.
The VCXx token will provide onchain exposure to late-stage private tech companies including SpaceX, OpenAI, Anthropic, and Databricks through a single token. As reported by Crowdfund Insider, the token will be issued by Backed Assets (JE) Limited and offered via Payward Digital Solutions, with trading set to go live on xStocks "in the coming days." Fundrise CEO Ben Miller stated that "We built VCX to act as a bridge between the public and private markets," arguing that tokenizing the fund on xStocks lets "individual investors own a piece of the best private technology companies in the world" via a regulated structure.
According to xStocks' launch materials, VCXx will be purchasable using USDG — Kraken's on-platform dollar-denominated token — or U.S. dollars, giving eligible investors outside the U.S. access to VCX's portfolio. The token is designed to move seamlessly between centralized exchanges, self-custodied wallets, and onchain applications. Fundrise and Kraken emphasize that VCXx will be fully backed by underlying VCX shares and can be used as collateral or integrated into automated strategies, extending tokenized equities beyond public stocks into private-market exposure.
The Innovation Fund was launched to open up late-stage private tech deals that are typically reserved for institutions and ultra-high-net-worth investors. As reported by Crowdfund Insider, the partners argue that tokenizing VCX shares allows diversified private-tech exposure to be accessed, transferred, and integrated into DeFi with the same flexibility as other digital assets. If VCXx gains liquidity, it could become a template for how other listed vehicles and funds wrap private holdings into programmable, globally tradable tokens without dismantling existing regulatory structures.
