What each represents, how ownership differs, and where each trades.
| Asset type | What it represents | |---|---| | Stock | An ownership interest in a corporation, with economic and governance rights defined by the share class. | | ETF | A pooled investment vehicle that trades on an exchange and may track an index, sector, asset class, or strategy. | | Market index | A rules-based measurement of a selected market segment; an index itself is not necessarily directly investable. | | Cryptocurrency coin | A native asset of a blockchain network, often used for fees, incentives, or settlement. | | Crypto token | A digital unit created on a blockchain that may represent utility, governance, ownership, access, or a claim. |
The legal and economic rights attached to these assets differ substantially. A stock can represent a claim on a company's residual value; a token may provide network utility or governance without representing ownership of a business.
| Dimension | Stocks and crypto | |---|---| | Cash flows | Stocks may provide dividends or residual claims on company cash flows. Many crypto assets do not. | | Trading hours | Most stocks trade in defined exchange sessions; crypto generally trades continuously. | | Custody | Stock custody is usually intermediated. Crypto may be held through an exchange or self-custodied. | | Supply changes | Companies issue or repurchase shares. Crypto supply may change through emissions, unlocks, burns, or protocol rules. | | Disclosure | Public companies face prescribed reporting requirements. Crypto disclosure practices vary widely. |