The GigaStar secondary market went live today. After months of building, testing, and migrating investor accounts to our new broker-dealer platform, CRT holders can now buy and sell tokens through a regulated Alternative Trading System (ATS).
What We Saw
Day one brought exactly what we expected from a new market: cautious activity, price discovery, and a lot of people watching. Early trades established initial market prices for several of the most widely held CRTs. Volume was modest — which is appropriate for a market this new and this small.
We saw more buy interest than sell interest in the first session, which suggests that many existing holders are content to hold their positions and collect distributions rather than exit. That's a rational posture for an income-generating asset.
What Surprised Us
The spread between bid and ask prices was tighter than we anticipated on the most popular offerings. We had expected wider spreads in the early days as buyers and sellers found each other. Tighter spreads suggest that the investor base has a relatively aligned view of what these tokens are worth — at least initially.
What Comes Next
A secondary market doesn't mature on day one. Liquidity builds over weeks and months as more participants enter, price history accumulates, and investors develop confidence in the trading process. We'll be publishing regular updates on market activity and trends as the secondary market finds its rhythm.
If you haven't migrated your account to GigaStar Securities yet, you'll need to complete that process before you can participate in secondary trading. Visit your account dashboard to get started.
This content is for educational purposes only and does not constitute investment advice. Secondary market trading involves risk, including potential loss of principal.