WuShuo has learned that recently exchanges like Binance, Bitget, and Gate have partnered with Alpaca to advance their U.S. stock business. Alpaca is also a collaborator for mainstream on-chain stock tokenization solutions such as xStocks, Ondo, and Dinari. By the end of 2025, Alpaca had captured over 94% of the market share in the U.S. stock token and ETF market. In mid-January 2026, Alpaca completed a $150 million Series D funding round at a valuation of $1.15 billion, officially achieving unicorn status. Investors included Citadel, one of the world's largest independent market makers. https://(wublock123.com)/news/alpaca-94-percent-us-stock-token-etf-market-share-2025-end-62144