SpaceX has already fallen below the market opening, will it copy? Copy RWA tokens or directly copy stocks? The process of listing on the US stock market can be divided into two main paths in the cryptocurrency industry: tokenization and direct connection with securities firms. The former packages stocks as on chain certificates, with good liquidity and 24-hour activity; The latter order actually enters the execution chain of licensed securities firms in the United States, falling on NASDAQ and the New York Stock Exchange, and is a real holding with dividends and shareholder equity. In the past, these two routes were two sets of people and two sets of stories. If users wanted these two types of exposure, they had to transfer assets between different platforms. Bitget has put two routes into the same account system this time - rToken through tokenization, Stock+through direct connection with securities firms, and users can choose their own holding method in one exchange account. This is the first exchange to develop two modes in parallel. Securities firms are directly connected to this line, and orders are routed through RQD Clearing and Atomic Vaults, two US licensed securities firms, to Nasdaq/NYSE market makers for matching, rather than price contracts synthesized internally by the platform. Direct deposit of USDC eliminates the friction of "opening a traditional brokerage account first and then transferring funds for two days", which is a practical convenience for those who hold digital assets for a long time and want to allocate to the US stock market. The transfer mechanism is also designed to be practical: when transferring positions from securities firms such as Futu and Tiger to Bitget, the platform side is free of handling fees, and the original securities firm side has a maximum transfer subsidy of $10000. This window period is worth paying attention to for those who already have positions in traditional securities firms. Two mechanism level points can be explained: dividends and voting rights are currently exercised through the Bitget platform; Asset transfer support, transfer function will be opened later (without affecting trading and withdrawal, but temporarily not supporting transfer to other securities firms). These two points are the current operation mode of the product, which determines what kind of usage scenarios it is more suitable for: users who want convenient integration, long-term holding, and are not in a hurry to frequently switch positions between multiple securities firms, this structure is suitable. There is currently no second company in the industry that combines tokenization and direct connection with securities firms into one account system. For those who want to complete US stock allocation in the cryptocurrency ecosystem without sacrificing their real equity attributes, this is a new option worth testing.