Bitget rToken FAQ: trading, fees, dividends, and capital efficiency (institutional edition)

1. rToken basics

Q1: What is rToken?

rToken is a tokenized representation of beneficial rights to U.S. stocks and ETFs, issued by Reality, a platform strategically backed by Bitget. It launched on June 2, 2026. Each rToken is named with an "r" prefix followed by the corresponding stock ticker (e.g., rAAPL for Apple, rNVDA for Nvidia) and is quoted and traded in USDT. Each rToken is backed 1:1 by the corresponding underlying U.S. stock, not by synthetic exposure.

Q2: What is the Reality RWA issuance platform?

Reality is the RWA issuance platform behind rToken, strategically backed by Bitget. It connects rToken to the underlying U.S. securities through regulated brokerage, custody, settlement, and blockchain infrastructure. Reality also engages The Network Firm, a U.S.-registered accounting firm, to publish daily Proof of Reserves reports verifying the 1:1 match between issued rToken and the underlying holdings.

Q3: What is Bitget Stocks 2.0? How does rToken differ from Stock+?

Bitget Stocks 2.0 is Bitget's U.S. stock ecosystem, made up of two products:

Q4: How does rToken work?

Each rToken is designed to provide 1:1 economic exposure to the corresponding U.S. stock or ETF. The underlying securities are held through compliant brokerage and custody infrastructure, and rToken represents an on-chain claim to the associated economic rights. For example, rAAPL tracks the economic value of Apple stock, while rQQQ tracks the performance of the corresponding ETF.

Q5: How many rTokens are currently supported?

As of August 2026, Bitget supports over 600 rTokens, and continues to add more regularly. These include tech stocks such as rAAPL (Apple), rNVDA (Nvidia), rTSLA (Tesla), rMSFT (Microsoft), rGOOGL (Google), rAMZN (Amazon), and rMETA (Meta); crypto-related stocks such as rMSTR (MicroStrategy) and rCOIN (Coinbase); and major broad-market ETFs such as rSPY (SP 500) and rQQQ (Nasdaq 100).

Q6: What rights come with holding rTokens?

Holding an rToken gives you an on-chain tokenized claim to the beneficial rights of the underlying stock, not direct registered ownership of the underlying shares. Specific rights include:

• Price exposure: Price tracks the underlying stock 1:1

• Dividend entitlement: Automatic receipt of net dividends in USDT

• Corporate action adjustments: Automatic adjustments for events such as stock splits and reverse splits

Not included: shareholder voting rights, direct share registration rights

2. Dividends and corporate actions

Q7: Are rToken holders entitled to dividends?

Yes. Eligible rTokens automatically pass through dividends and corporate action benefits from the underlying stock or ETF, with no action required from users.

Q8: How are cash dividends from the underlying stock handled? What is the withholding tax rate?

Cash dividends are credited to the account after tax (30% withheld) and automatically converted to USDT. The custodian broker withholds a default 30% U.S. tax, applied the same way regardless of user location.

Q9: How are stock dividends handled?

Bitget reflects supported stock dividends by issuing additional rTokens based on the applicable distribution ratio. For example, if a corporate action grants additional shares at a given ratio, the user's eligible rToken position is adjusted accordingly, keeping economic exposure aligned with the underlying security.

Q10: How are stock splits and reverse splits handled?

Bitget automatically reflects supported stock splits and reverse splits in users' rToken holdings, adjusting the quantity and unit value according to the corporate action ratio, helping keep users' overall economic exposure aligned with the underlying stock.

Q11: How are mergers and spin-offs handled?

Bitget handles supported mergers and spin-offs the same way the underlying stock is treated, similar to traditional stock market practice. Reality and Bitget adjust the relevant rToken positions based on the specific corporate action, reducing the need for users to manually calculate or reconcile positions.

Q12: What happens with rights offerings, tender offers, or delistings?

These more complex corporate actions are handled on a case-by-case basis. Bitget will announce the applicable treatment, timeline, and settlement details through official channels.

Q13: Do rToken holders have shareholder voting rights?

No. rToken represents economic beneficial rights and does not grant shareholder voting rights. Users receive economic benefits such as dividends, stock dividends, and adjustments for supported corporate actions.

3. Asset security: Custody, reserves, and bankruptcy remoteness

Q14: Is rToken fully backed by real stock?

Yes. Each rToken is backed 1:1 by the corresponding underlying U.S. stock or ETF through compliant brokerage and custody infrastructure, rather than through reliance on synthetic price exposure. The issuance structure is designed to maintain 1:1 backing, ensuring that circulating rTokens correspond one-to-one with the underlying securities held.

Q15: Who custodies the underlying stock for rToken? How are reserves verified?

The underlying securities are custodied by Alpaca Securities, a licensed U.S. broker. Reality engages The Network Firm, an independent accounting firm, to conduct reserve audits, publishing daily Proof of Reserves (PoR) data that's publicly accessible via a real-time Proof of Asset Dashboard.

Q16: Does rToken have a bankruptcy remoteness mechanism?

⚠️ The 1:1 underlying stock is registered under an independent, bankruptcy-remote SPV. The SPV's sole purpose is to hold the 1:1 underlying stock, and only users have recourse to it.

Q17: How does the on-chain minting and burning mechanism for rToken work?

Reality uses a mint-and-burn mechanism to link the on-chain supply of rTokens to the underlying asset structure:

• When eligible rTokens are purchased or issued, the corresponding rTokens can be minted

• When eligible rTokens are redeemed or removed from circulation, the corresponding rTokens can be burned

This mechanism helps keep the circulating token supply aligned with Reality's underlying issuance and reserve structure.

4. Capital efficiency: Margin and lending

Q18: What's the minimum trade size?

Fractional shares are supported, with a minimum purchase amount of 1 USDT or 10 USDT, depending on the asset.

Q19: Can rTokens be traded with leverage?

Yes. Eligible users can trade supported rTokens with leverage through the margin lending feature in Bitget's unified trading account (UTA). The maximum leverage available depends on the asset, account type, borrowing limit, and current risk parameters, and can go up to 10x.

Q20: Can rTokens be used as UTA margin? What's the collateral ratio?

Supported rTokens can be used as UTA collateral, contributing to the account's available margin. Bitget currently supports over 100 rTokens within the UTA collateral system, with collateral ratios for some rTokens reaching up to 95%. Specific ratios are set based on tiered risk parameters and follow real-time platform data.

👉 Check which rTokens are eligible as collateral

Q21: Can I borrow USDT to buy more rTokens?

Yes. Eligible users can borrow USDT through UTA margin lending to purchase supported rTokens.

For example, a user expecting Nvidia to rise can use eligible collateral to borrow additional USDT and buy rNVDA, increasing buying power without having to sell other supported assets first.

Q22: What are the risks of using rTokens as margin?

Using rTokens as collateral introduces additional risks beyond simply holding the position, including:

• Liquidation risk

• Amplified losses from leverage

• Borrowing interest costs

• Adjustments to collateral ratios

• Liquidity risk

• Sharp price drops (weekend/after-hours price gaps)

• Cross-asset losses within UTA compounding the impact

Q23: Can rTokens be used as collateral for Crypto Loans?

Yes. Supported rTokens can be used as collateral for Bitget Crypto Loans, letting users borrow crypto assets without selling their U.S. stock exposure. Over 100 rTokens are currently supported as collateral.

Q24: What assets can I borrow against rToken collateral?

Eligible users can use supported rTokens as collateral to borrow USDT, USDC, and over 100 crypto assets, subject to current availability and borrowing limits.

Q25: What are the LTV parameters for Crypto Loans?

Bitget Crypto Loans uses loan-to-value (LTV) ratios to determine how much users can borrow against rToken collateral. For many supported rTokens, current parameters include:

• Initial LTV: 78%

• Margin call LTV: 85%

• Liquidation LTV: 91%

For example, if an rToken position is worth $10,000 and the initial LTV is 78%, the user can borrow up to $7800, subject to current product limits. LTV parameters may vary by asset and may change based on market and risk conditions.

Q26: What's the collateral cap for a single rToken? How is any excess handled?

The Crypto Loans limit for a single rToken ranges from 1.2 million to 2 million USDT, depending on the specific asset. Positions exceeding the standard limit require review by the platform's risk control team.

Q27: What happens if collateral value drops?

If the rToken price falls, the loan's LTV rises as the collateral value declines relative to the borrowed amount.

If the LTV reaches the margin call level, users may need to add collateral or repay part of the loan. If it reaches the liquidation threshold, Bitget may liquidate the collateral to repay the outstanding debt.

Users should closely monitor their LTV, especially during periods of high stock market volatility.

Q28: What's the difference between UTA margin lending and Crypto Loans?

Both products let users unlock additional funds from eligible assets, but they serve different purposes:

• UTA margin lending: Built for active trading. Users borrow within their unified trading account to increase buying power, buy rToken, short eligible assets, or support cross-asset positions.

• Crypto Loans: Built for collateralized borrowing. Users pledge supported rToken to borrow USDT, USDC, or other supported crypto assets without selling their rToken holdings.

UTA margin lending focuses on capital efficiency for trading, while Crypto Loans offers a flexible way to unlock liquidity from existing rToken holdings.

Q29: What liquidation risks do holders face if the underlying stock drops sharply?

If rToken is used as collateral or margin: A sharp drop in the underlying stock price leads to a proportional drop in the rToken price, a decline in collateral value, a rapid rise in LTV, and potential liquidation.

Key risk factors:

• Weekend/after-hours gaps: If U.S. stocks gap down at Monday's open, the rToken price could quickly breach the margin call threshold.

• Cascading liquidation: Cross-asset losses within UTA can compound, accelerating passive deleveraging of rToken positions.

• Concentration risk: Holding a large amount of rTokens concentrated in a single ticker increases exposure to single-stock event risk (e.g., an earnings miss).

5. Fees, trading hours, and liquidity

Q30: What are the trading fee rates for rTokens?

The Bitget VIP program and its rules apply only to non-institutional users. Institutional trading fee rates, rebate arrangements, financing rates, and limit structures are negotiated separately with institutional BD based on client trading volume, strategy type, and partnership model.

Q31: What are rToken's trading hours? Which assets support 24/7 trading?

• All rTokens support 24/5 trading (ET): Pre-market 4:00 AM–9:30 AM, regular hours 9:30 AM–4:00 PM, after-hours 4:00 PM–8:00 PM, and overnight 8:00 PM–4:00 AM.

• The 90 major rTokens (including rAAPL, rNVDA, rTSLA, rMSFT, rSPY, and rQQQ) support 24/7 trading, including weekends and U.S. market holidays. This asset pool will continue to expand.

Q32: How does liquidity and pricing work during and outside U.S. market hours?

During U.S. market hours, rToken spot orders are routed directly to the NASDAQ/NYSE order books via Alpaca Securities, with execution prices directly reflecting the underlying stock market price—no additional price-anchoring mechanism is needed. On weekends and holidays, liquidity is provided internally by Bitget, and market depth, spreads, and price formation may differ from the underlying stock's regular trading hours.

6. API, automated strategies, and structured products

Q33: Does rToken support API trading?

Yes. On August 11, 2026, Bitget fully opened the Reality spot stock API, with no whitelist registration required, supporting standard trading endpoints.

Q34: What data and trading functions does the API support?

Bitget's rToken API supports market data and trading functions, including:

• Contract information

• Ticker data

• Candlestick chart data

• Historical candlesticks

• Order book data (Level 2 market depth)

• Account balance queries

• Market and limit orders

• Order cancellation

Reality's order endpoints currently support up to 30 requests per second per user ID. Advanced API features and access conditions may vary, and users should check the latest Bitget API documentation before integrating.

👉View the on-exchange API access

👉 View the hybrid API access

Q35: Is API trading suitable for institutions and quant teams?

Yes. API support makes rToken well suited for users who want automated execution, real-time market monitoring, or systematic stock-linked strategies.

Bitget also offers institutional trading infrastructure, including its Lola high-speed API channel, designed for professional users who need lower-latency connectivity and high-speed execution. This lets institutions integrate rTokens alongside crypto and other supported markets within Bitget's broader trading ecosystem.

Q36: Does rToken support Smart Portfolio?

Yes. Smart Portfolio lets users combine supported rTokens with crypto assets in a single, automatically managed portfolio, choosing either a preset strategy or a custom allocation. The system automatically rebalances according to the selected strategy, making it easier to manage stock and crypto exposure together.

Example portfolio: rNVDA + rAAPL + rQQQ + BTC + ETH

Q37: Does rToken support auto-invest?

Yes. Users can select an rToken, set an investment amount and frequency, and Bitget will automatically execute purchases on schedule—suited for users who want to gradually build U.S. stock exposure without manually placing orders.

Q38: Does rToken support trend-following bots?

As of August 12, 2026, supported rTokens can be traded using the spot trend-following bot, which supports the following indicators:

• Moving averages

• Bollinger Bands

• RSI

• Custom strategy parameters

This gives rToken traders another way to automate entries and exits without manually monitoring stock-linked markets. Automated strategies don't guarantee returns and may increase losses in volatile market conditions.

Q39: Does rToken support copy trading?

Yes. Orders with supported rTokens can be copied through Bitget UTA elite trading, where elite traders share their trades and copiers automatically replicate them, bringing U.S. stock exposure into the existing copy trading ecosystem.

Q40: Does rToken support GetAgent Playbook?

Yes. In 2026, Bitget extended GetAgent Playbook to tokenized U.S. stocks, supporting AI-driven stock selection, strategy analysis, and compliant trade execution—connecting rToken with Bitget's AI trading ecosystem.

Q41: What Earn products support rToken?

Bitget has expanded rToken beyond spot trading into structured products, letting users pursue yield while maintaining exposure to U.S. stock-linked assets. Current options include stock Dual Investment and Fixed Coupon Notes (FCN). These products use different settlement structures and carry additional market risk, so users should review the terms before subscribing.

Q42: What is stock Dual Investment?

Launched on July 25, 2026, it initially supports rSPCX, rNVDA, rGOOGL, rAAPL, rCOIN, and rAMZN. Users can choose between two strategies:

• Buy low: Aims to buy rToken at a lower price while earning yield.

• Sell high: Aims to sell rToken at a higher price while earning yield.

Settlement at maturity depends on how the target price compares to the rToken's observation price at expiry.

Q43: What is rToken FCN? How does it work?

Bitget Fixed Coupon Notes (FCN) are structured Earn products linked to selected rTokens. Launched in August 2026, they let users subscribe with USDT, choose a strike price, and earn a predetermined coupon.

FCN gives users another way to put their USDT to work while targeting an entry price for U.S. stock-linked assets.

Q44: Is rToken FCN principal-protected?

No. rToken FCN is a non-principal-protected structured product.

If the rToken falls below the strike price, users may receive rToken at the predetermined strike price. If its market value continues to fall afterward, the final position could be worth less than the original USDT subscription amount.

The fixed coupon offers additional return potential, but it doesn't eliminate the market risk of the underlying rToken.

Q45: What's the difference between stock Dual Investment and FCN?

Both products link rToken to structured yield strategies, but they work differently.

• Stock Dual Investment: Supports buy-low and sell-high strategies, useful for targeting an entry or exit price while earning yield.

• FCN: Uses USDT subscriptions, a predetermined strike price, and a fixed coupon. At maturity, users receive either USDT or the linked rToken based on the observation price.

These products give eligible rToken users more ways to manage stock-linked exposure beyond simply buying and holding.

7. On-chain trading and asset transfers

Q46: Can rToken be held in a Web3 wallet?

Yes. On August 19, 2026, Bitget extended rToken to on-chain trading and holding, letting users access supported rTokens through compatible Web3 wallets and move flexibly between the centralized exchange and on-chain environments.

Q47: Which blockchains support rToken?

Initial on-chain support covers Arbitrum and Morph. Reality's asset ecosystem covers over 600 U.S. stock and ETF rTokens, with specific on-chain availability depending on the asset and network. Coverage will continue to expand.

Q48: Can rToken be traded directly on-chain?

Yes. Supported rTokens can be traded through compatible Web3 infrastructure, letting users swap stablecoins or crypto assets such as USDT, USDC, or ETH for available rTokens, extending U.S. stock exposure into decentralized environments.

Q49: Can rToken be deposited and withdrawn on Bitget?

Yes. Supported rTokens can be deposited and withdrawn through available networks, including during eligible weekend trading hours. Specific support depends on the asset, account, region, and platform status—please confirm current deposit/withdrawal availability before transferring.

Q50: What should I confirm before transferring rTokens?

• Whether the rToken supports deposits/withdrawals

• Whether the sending and receiving networks match

• Whether the token address being used is correct

• Whether the deposit/withdrawal channel is currently open

• Applicable network or withdrawal fees

Using an unsupported network or sending rToken to an incompatible address may result in permanent loss of assets.

8. Eligibility

Q51: Who can use rToken?

rToken is available to eligible users who've completed identity verification and meet the relevant regional, account, and product requirements. Availability may vary by country/region, residency, physical location, asset class, and account entity—please refer to the latest official rToken page and regional terms.

Q52: Can U.S. persons use rToken?

No. rToken issued by Reality is generally not available to users located in the U.S. or to U.S. persons. Eligibility remains subject to Bitget's compliance requirements, applicable regulations, and regional restrictions.

Q53: Can residents of mainland China use rToken?

Eligible residents of mainland China may be able to access rToken if their account meets Bitget's identity verification, regional, and product requirements. Availability depends on the user's location, residency, account entity, and applicable regulations—please confirm current eligibility before trading.

Q54: Which regions can trade rToken?

rToken is only available to eligible users who've completed identity verification and meet regional/account requirements. Specific regional availability depends on actual account status and local regulations—please contact institutional BD directly to confirm.