Butterfly Network tokenized stock price

Butterfly Network is the name of the stock, typically based on the name of the company or ETF.

BFLY is the ticker symbol for Butterfly Network on a stock exchange and represents the underlying stock. It can be traded on traditional stock exchanges such as Nasdaq or the NYSE during applicable exchange trading hours, typically in fiat currency such as USD. Holders of BFLY shares may receive dividends and have shareholder status and voting rights in the company.

Butterfly Network tokenized stock is a new type of stock asset that brings BFLY stock on-chain and represents a tokenized form of BFLY stock. Butterfly Network tokenized stock can be traded on crypto exchanges. The name of Butterfly Network tokenized stock may vary by issuer, but all versions track the price and other relevant attributes of BFLY stock.

RWA issuance platform Reality has launched a series of tokenized products backed 1:1 by real stocks, collectively known as Bitget rToken. Bitget rToken supports 24/7 trading on the Bitget exchange and is typically priced and traded using stablecoins such as USDT. As one of the most popular tokenized stock products in the global market, Bitget rToken allows holders to receive dividend distributions corresponding to those of the underlying stock, automatically paid in USDT. However, holders do not have legal shareholder status or voting rights in the company.

rBFLY is the rToken code for the Butterfly Network tokenized stock issued by Reality. On the Bitget crypto exchange, rBFLY is available for spot trading through the rBFLY/USDT trading pair.

Bitget was among the first crypto exchanges to support trading Butterfly Network stock. There are currently two main ways to trade Butterfly Network stock on Bitget:

1. Buy Bitget rToken: Trade rBFLY on Bitget's spot stock market using stablecoins such as USDT. rBFLY is an RWA token for Butterfly Network, based on Butterfly Network stock.

2. Buy through Bitget Stock+: Use stablecoins such as USDT to directly purchase real Butterfly Network shares (BFLY) on the U.S. stock market.

View all Bitget rToken products

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 U.S.-registered accounting firm The Network Firm to publish daily Proof of Reserves reports, verifying the 1:1 correspondence between issued rTokens and the underlying holdings.

Reality's official website: https://realityfinance.xyz

rBFLY is deployed on the Arbitrum network. Users can view detailed issuance information for rBFLY on the rBFLY token details page on Reality's official website (https://realityfinance.xyz/en/market/detail/BFLY). Users can also use the rBFLY token contract address to look up information such as the issuer (Reality) identifier for rBFLY and its Proof of Reserves records on an Arbitrum blockchain explorer.

The BFLY tokenized stock issued by Reality is rBFLY, an RWA crypto token that tracks real Butterfly Network stock on a 1:1 basis through blockchain technology and is supported for trading by Bitget.

Key features include:

1. Price tracking and economic benefits: Its price movements track Butterfly Network stock (BFLY) in the U.S. market in real time, and holders can receive dividends automatically distributed in USDT.

2. Crypto asset flexibility: It can be purchased directly using stablecoins such as USDT and supports fractional trading starting from as little as 1 USDT.

3. 24/7 trading and multiple uses: It supports 24/7 trading and can also be used directly as margin for futures trading or as collateral on crypto exchanges such as Bitget.

Bitget users can buy rBFLY on Bitget's spot stock market through the rBFLY/USDT trading pair.

Yes. rBFLY is a real-world asset (RWA) token issued by the licensed issuer Reality and supported for trading by Bitget.

Here's why:

1. Backed by a real underlying asset: rBFLY is not a purely synthetic crypto asset. It is issued by the licensed RWA protocol Reality, with each rBFLY backed 1:1 by real Butterfly Network shares (BFLY) held in custody with a compliant U.S. broker.

2. Tokenized on-chain: It tokenizes real-world stock assets from traditional finance (TradFi), allowing them to be transferred, traded, and settled in token form on the blockchain or through the crypto exchange Bitget.

3. Exposure to real economic benefits: Holders can benefit from changes in the underlying stock price and receive dividends generated by the underlying shares, which are automatically distributed in USDT. This reflects a key characteristic of RWA assets: linking on-chain tokens to real-world cash flows and economic rights.

rBFLY is a Butterfly Network tokenized stock issued by the licensed RWA protocol Reality. It is backed 1:1 by real Butterfly Network stock (BFLY) and can be traded on the crypto exchange Bitget through the rBFLY/USDT trading pair. Its pricing and operating mechanisms are as follows:

Price formation and tracking

Real-time price tracking: The price of rBFLY tracks Butterfly Network stock (BFLY) listed on the U.S. stock market on a 1:1 basis.

Direct access to native liquidity (during U.S. market hours): During regular, pre-market, and post-market trading sessions in the U.S. stock market, rBFLY spot orders are routed directly through the system to the Nasdaq or NYSE order book for execution, resulting in zero spread and eliminating depegging risk.

On-exchange pricing (when U.S. markets are closed or on weekends): When the U.S. stock market is closed, rBFLY switches to 24/7 on-exchange trading. Its price is generally based on the most recent U.S. stock market closing price and fluctuates dynamically based on buy and sell orders matched on the crypto exchange.

Underlying asset and economic rights

1:1 backing by real assets: Each rBFLY token issued is backed 1:1 by real shares of Butterfly Network held in custody with a compliant U.S. broker such as Alpaca. The reserves are also subject to daily Proof of Reserves (PoR) verification using Merkle tree data.

Minting and burning: When a user or institution subscribes to rBFLY on the platform, Reality purchases the corresponding amount of Butterfly Network stock in the U.S. market and mints new tokens. Upon redemption, the tokens are burned and the corresponding stock reserves are released.

Automatic dividend distribution and stock split handling:

Dividend payouts: When Butterfly Network stock pays a dividend in USD, a 30% U.S. withholding tax is automatically deducted. The remaining net dividend is converted to USDT and distributed to users' crypto accounts in proportion to their holdings.

Stock splits and reverse splits: In the event of a stock split, reverse split, or other corporate action, the system automatically adjusts the amount of rBFLY in users' accounts proportionally, with no manual action required.

Crypto utility and unified trading account use: rBFLY has the flexibility of a crypto asset. In addition to 24/7 trading, it can be used directly as margin for futures trading or as collateral for crypto borrowing in the unified trading account (UTA).

BFLY is the underlying Butterfly Network stock, while rBFLY is the Butterfly Network tokenized stock issued by Reality and supported for trading by Bitget, backed 1:1 by BFLY stock. rBFLY brings BFLY stock on-chain.

Here's how the two are related and how they differ:

1:1 backing: rBFLY is issued by Reality, with each rBFLY backed by one real share of BFLY held in reserve. As a result, rBFLY's market performance and price movements track those of the underlying BFLY stock.

Economic benefits (dividends and stock splits): Holding rBFLY provides economic benefits corresponding to those of the underlying stock. For example, when BFLY pays a dividend, rBFLY holders receive a proportional dividend distribution converted to USDT in their accounts. Adjustments for stock splits and reverse splits are also reflected accordingly.

Legal status and trading access:

BFLY: Holders directly own shares in a publicly listed company through a traditional securities broker, with their equity interests subject to regulation by the SEC (U.S. Securities and Exchange Commission).

rBFLY: An RWA crypto token issued on the blockchain. It does not confer direct shareholder status or voting rights in Butterfly Network, but provides corresponding economic exposure to the underlying asset.

Trading flexibility:

BFLY is generally traded in whole or fractional shares through a traditional broker during available U.S. stock market trading sessions, using fiat currency such as USD.

rBFLY can be traded 24/7 on the crypto exchange Bitget using stablecoins such as USDT. It supports flexible fractional trading and can also be used as collateral or margin for crypto derivatives trading.

Although rBFLY tracks the price movements and dividend returns of BFLY stock on a 1:1 basis, the two differ significantly in their underlying structure and use cases:

1. Asset structure and legal status

BFLY: Represents equity in a publicly listed company. Holders are registered shareholders of the company and have voting rights at shareholder meetings. The stock is regulated by financial authorities and organizations such as the SEC (U.S. Securities and Exchange Commission) and FINRA (Financial Industry Regulatory Authority), while eligible brokerage accounts may also be protected by SIPC (Securities Investor Protection Corporation).

rBFLY: An RWA crypto token issued on-chain by Reality and supported for trading by Bitget. Holders receive economic exposure corresponding to that of the underlying shares but do not directly own shares in Butterfly Network or have shareholder voting rights.

2. Trading hours and settlement

BFLY: Trading is limited to U.S. stock market trading sessions, including regular trading hours from 9:30 AM to 4:00 PM ET as well as available pre-market and after-hours sessions. Trades are settled in U.S. dollars, and fund movements are subject to the clearing and settlement cycles of the traditional financial system.

rBFLY: Tradable 24/7 using stablecoins such as USDT, with funds credited within seconds and no need to wait for currency conversion or traditional settlement.

3. Accessibility and fractional trading

BFLY: Typically requires opening an account with a traditional broker and completing identity and address verification.

rBFLY: Offers a simpler account-opening and identity verification process, with fractional purchases starting from as little as 1 USDT, lowering the barrier to entry.

4. Crypto utility and capital efficiency

BFLY: A traditional financial asset that cannot directly participate in the blockchain ecosystem or crypto trading.

rBFLY: Has the flexibility of a crypto token. In addition to spot trading, it can be transferred directly, used as margin in a unified trading account on a crypto exchange such as Bitget, or used as collateral to borrow crypto assets, enabling highly efficient capital use.

Holding rBFLY does not make you a direct shareholder and does not grant voting rights. rBFLY is a tokenized asset issued by Reality and supported for trading by Bitget, rather than direct equity in the company.

No direct shareholder status: rBFLY is essentially an RWA (real-world asset) token issued on-chain by Reality and backed by real shares held in custody. The underlying Butterfly Network shares are held in custody with a compliant broker under the issuer's name, so you are not directly registered as a shareholder of Butterfly Network.

No voting rights at shareholder meetings: Because you are not a registered shareholder, you cannot participate in Butterfly Network's shareholder meetings or vote on major corporate matters, such as board elections or major acquisition proposals.

Economic benefits only: Although you do not have voting rights, you can still receive the economic benefits associated with the underlying stock, including gains from changes in its market price and USDT dividend distributions based on your holdings when Butterfly Network pays a dividend.

No. They are two completely separate products and should not be confused with each other.

rBFLY/USDT on the spot market: The spot trading pair for rBFLY, the RWA token based on BFLY stock. rBFLY is issued by Reality and supported for trading by Bitget. It is a tokenized stock asset backed 1:1 by real Butterfly Network shares (BFLY), and holders are entitled to the corresponding economic benefits of the underlying stock, including dividends and adjustments for stock splits.

BFLYUSDT on the futures market: A futures derivative linked to BFLY stock. The BFLYUSDT perpetual futures contract is a separate derivative offered by Bitget for trading the price movements of Butterfly Network stock. It does not represent ownership of the underlying stock or confer dividend rights, and it is not linked to Reality's Proof of Reserves mechanism.

Simply put, rBFLY is a tokenized representation of the stock, while BFLYUSDT perpetual futures contract is a derivative linked to the stock. The two differ in their risk structures, economic rights, and funding rate mechanisms, so users should clearly distinguish between them when choosing what to trade.

When Butterfly Network undergoes a stock split or reverse stock split, the quantity and price of rBFLY, issued by Reality and supported for trading by Bitget, are automatically adjusted accordingly, while the total value of each user's rBFLY holdings remains unchanged.

The adjustment mechanism and process are as follows:

Holdings and unit price are adjusted proportionally:

Stock split example (e.g., 10-for-1): If you hold 1 rBFLY, once the stock split takes effect, your rBFLY balance automatically increases to 10, while the unit price of rBFLY is adjusted to one-tenth of its previous price. Your total position value remains unchanged.

Reverse stock split example (e.g., 1-for-10): If you hold 10 rBFLY, once the reverse stock split takes effect, your rBFLY balance automatically decreases to 1, while the unit price of rBFLY is adjusted to 10 times its previous price. Your total position value remains unchanged.

Fully automatic, with no action required: Once the underlying U.S. shares held in custody by Reality complete the stock split or reverse stock split at the clearing level, the platform automatically updates users' on-chain and account holdings in the background. No manual withdrawal, conversion, or other action is required.

Temporary trading suspension and order cancellation: During the clearing window when a stock split or reverse stock split takes effect, the platform typically suspends trading of rBFLY and automatically cancels unfilled orders. Trading resumes automatically once account reconciliation and token quantity adjustments are complete.

Automatic adjustment of futures margin and collateral: If rBFLY is used as margin for futures trading or pledged as collateral for borrowing, the system automatically adjusts the collateral quantity and index mark price based on the stock split or reverse stock split ratio, helping ensure that your leverage and margin health are not affected by the change in quantity.

rBFLY is issued by Reality and supported for trading by Bitget, with 24/7 trading available. You can continue to buy and sell rBFLY when U.S. markets are closed or on weekends, with different pricing mechanisms applying during different trading periods.

U.S. market closures and weekend trading: rBFLY is tradable 24/7

During U.S. market hours (including pre-market, regular, and after-hours sessions): rBFLY orders are routed directly to the Nasdaq or NYSE order book, with prices synchronized in real time with the underlying U.S. stock market.

When U.S. markets are closed or on weekends: The system switches to on-exchange crypto market trading. Users can continue to place orders and trade using USDT on the exchange at any time.

rBFLY does not depeg

When U.S. markets are open (no depegging): Orders are routed directly to the U.S. stock market for execution, and execution prices track current U.S. stock prices directly, so depegging does not occur.

When U.S. markets are closed or on weekends (market-driven pricing rather than depegging):

While the U.S. stock market is closed and no new stock prices are being quoted, the price of rBFLY on the crypto exchange is determined by buy and sell orders matched on the exchange.

If major news breaks over the weekend, such as policy changes or significant industry developments, rBFLY may rise or fall in advance as market sentiment is reflected in its price. This represents early price discovery in the crypto market outside U.S. trading hours. When the U.S. stock market reopens on Monday, the price can quickly realign with the underlying stock market through the live order book.

Weekend trading risk notice

Lower liquidity than usual: With no native U.S. stock market liquidity during market closures, the order book may be thinner, and larger trades may face slightly wider bid-ask spreads.

Liquidation protection when used as futures margin: If rBFLY is used as margin for futures trading, the platform typically uses Friday's U.S. stock market closing price as a fixed index mark price over the weekend for risk calculations, helping prevent small on-exchange price fluctuations from triggering liquidation.

The two methods have very different fee structures. A general comparison is provided below:

1. Buying BFLY through a traditional broker, such as Longbridge, Moomoo, Futu Securities, or IBKR

Trading commissions and platform fees: Many U.S. stock brokers now offer zero-commission trading, charging only a small platform fee of around $0.99–$1 per trade. Some brokers that do not charge platform fees have trading costs close to zero.

Cross-border funding and FX conversion costs (the main cost): For users outside the U.S. who fund their accounts in local currency to buy U.S. stocks, bank wire transfer fees and FX spreads of around 0.5%–1.5% can represent the main hidden costs.

Regulatory fees: Stock sales may incur small SEC regulatory fees and FINRA trading activity fees, typically amounting to only a few cents per trade and having minimal impact on overall costs.

2. Buying rBFLY, issued by Reality, on the crypto exchange Bitget (trading pair: rBFLY/USDT)

Transaction fees: Standard crypto exchange spot transaction fees apply, with base rates typically around 0.05%–0.1%. Fees may be reduced further by holding a platform token such as BGB or reaching a higher VIP level.

No fiat FX conversion costs: You can trade directly using USDT held in your account, avoiding the fiat FX conversion and cross-border wire transfer costs typically associated with traditional finance.

No SEC fees: As the transaction involves an on-chain token rather than a directly cleared U.S. stock trade, the related regulatory fees do not apply.

Recommendations by scenario:

If you hold crypto such as USDT, buying on a crypto exchange may be more cost-effective. Converting USDT into USD cash and then buying BFLY through a traditional broker may incur P2P conversion costs, bank deposit and withdrawal fees, and FX fees, with combined costs typically around 1%–2% or more. By comparison, buying rBFLY directly on a crypto exchange may incur only a transaction fee of around 0.05%–0.1%.

If you hold non-USD cash, buying on a crypto exchange may also be more cost-effective. Converting non-USD cash into USD and then buying BFLY through a traditional broker may involve FX spreads, wire transfer fees, and broker platform fees or commissions, with combined costs typically around 0.5%–2% or more. Buying rBFLY directly on a crypto exchange avoids fiat FX conversion and cross-border wire transfers, leaving only a spot transaction fee of around 0.05%–0.1%. This may offer greater cost and capital efficiency.

If you hold USD cash, buying through a traditional U.S. broker may be more cost-effective. Funding a brokerage account directly in USD can provide access to zero-commission or very low-cost trading. Converting USD into USDT first to buy rBFLY may instead introduce an additional funding cost.

In the growing ecosystem connecting crypto with U.S. stock RWAs, direct USDT trading of BFLY tokenized stock is primarily available on Universal Exchanges (UEX). Bitget is currently one of the leading platforms in this space by trading volume.

In June 2026, Bitget became one of the first exchanges in the industry to launch a next-generation tokenized stock product—Bitget rToken. Bitget rToken lets users trade popular U.S. stocks (including BFLY) on the spot market directly using major stablecoins such as USDT.

Bitget rToken: Access Wall Street liquidity, receive real dividends, and use your holdings as futures margin!

Quick steps to buy BFLY tokenized stock on Bitget's spot stock market:

1. Sign up and complete identity verification: Log in to your Bitget account and complete basic identity verification.

2. Prepare USDT: Make sure you have USDT in your spot or funding account.

3. Go to the stock section: Find the stock section on the platform and search for "rBFLY".

4. Place your order: Enter the amount of USDT you want to spend or the number of tokens you want to buy, then place a market or limit order to complete your purchase.

Yes, Bitget rToken supports fractional share trading of U.S. stocks.

With Bitget rToken, users can use cryptocurrencies such as USDT to buy tokenized U.S. stocks, including BFLY, in whole or fractional amounts. As blockchain-based assets, tokenized stocks are highly divisible, allowing users to buy fractions of BFLY worth just a few USDT rather than purchasing a whole share.

Key features of fractional U.S. stock purchasing on Bitget:

1. Direct access with crypto: No need for traditional offshore wire transfers—you can gain exposure to U.S. stocks directly with USDT.

2. Economic benefits: rToken holders are entitled to the corresponding economic benefits of the underlying assets, such as cash dividends.

3. Compliance and settlement: Underlying trading and settlement are supported by licensed financial institutions such as Reality and Alpaca.

4. Regional restrictions: This feature is restricted in certain countries and regions, including the United States, the United Kingdom, the EU, Singapore, and Hong Kong. Refer to Bitget's current eligibility requirements for details.

rBFLY is a newly launched Bitget rToken—a tokenized stock issued by Reality and pegged 1:1 to BFLY stock.

rBFLY offers the following features: 1:1 exposure to the underlying BFLY stock, 24/7 trading, fractional trading, dividend payouts, and eligibility for use as margin in the platform's unified trading account and USDT-M Futures.

This means that even without a U.S. brokerage account, you can use cryptocurrencies such as USDT to buy rBFLY, giving you exposure to BFLY stock along with BFLY's dividend payouts.

Trading rBFLY works much like trading BTC or other cryptocurrencies. The platform also allows users to buy BFLY shares directly through its U.S. stock trading service.

How rBFLY works:

1. Priced and traded directly in USDT: There's no need to convert your funds into U.S. dollars or make offshore wire transfers. You can buy and sell BFLY tokenized stock (usually displayed as rBFLY) directly using USDT in your wallet or account.

2. Fractional trading: Tokenized stocks are highly divisible on the blockchain, allowing users to buy fractions of BFLY worth just a few USDT rather than purchasing a whole share.

3. 1:1 economic exposure and dividends: Assets in this category are backed by compliant RWA issuers such as Reality, providing 1:1 economic exposure to the underlying assets. When the underlying U.S.-listed company pays a cash dividend, Bitget automatically converts the dividend into USDT and distributes it to users' accounts.

4. Deep ecosystem integration: Under Bitget's Universal Exchange (UEX) framework, BFLY tokenized stock can be traded on the spot market and may also be supported across the unified trading account, margin trading, grid trading bots, and derivatives.

The launch and operation of rBFLY involve collaboration among multiple parties:

rBFLY issuer: Reality Protocol—a licensed RWA protocol under Bitget. Reality Protocol is responsible for the on-chain issuance of RWA stock tokens and the custody of the corresponding underlying stock assets, ensuring that each token corresponds 1:1 to an actual holding.

Stock custodian: Alpaca Securities—a regulated broker registered with FINRA in the United States and covered by SIPC. Alpaca Securities is responsible for the custody of the underlying stock assets backing all RWA tokens, ensuring that each token is backed by an actual holding.

Asset verification: The Network Firm—an independent third party. The Network Firm independently verifies the underlying stock holdings held in custody by Reality, providing independent assurance.

Trading and liquidity platform: Bitget—The exchange serves as the primary spot and derivatives trading venue, providing the liquidity needed to trade rBFLY directly with USDT.

rBFLY runs on the Arbitrum chain. Users can interact with the asset on-chain and off-chain through wallets that support the network or through a Bitget unified trading account.

rBFLY is designed to be backed 1:1 by real underlying BFLY share.

According to the mechanism published by Reality Protocol, when a user buys rBFLY on Bitget, the issuer purchases and holds a corresponding amount of BFLY shares in the U.S. stock market through a licensed broker such as Alpaca Securities.

rBFLY mirrors the economic benefits of the underlying asset on a 1:1 basis. This means that rBFLY's price movements, dividends (such as cash dividends, which are automatically converted into stablecoins and distributed), and corporate actions such as stock splits are synchronized with those of the underlying BFLY stock.

rBFLY provides 1:1 tracking of the underlying asset and its corporate actions:

Cash dividends paid directly: Cash dividends from stocks are automatically converted into USDT and credited directly to your account, with the payment time and amount clearly displayed.

Stock dividends distributed directly: Stock dividends are credited to your account as tokenized shares on a 1:1 basis in real time, with your cost basis and total asset value updated instantly.

Real-time stock splits and reverse splits: Stock splits and reverse splits are reflected on-chain in real time, ensuring your holdings remain fully synchronized with the U.S. stock market while helping minimize depegging risk.

The real-time price of rBFLY is $0. For the most accurate, up-to-date price data, check the top of this page, where key metrics are updated in real time around the clock, including the last price, 24-hour price change, historical price chart, P/E ratio, dividend yield, dividend amount, and other stock data. You can also scroll down for more analysis of today's rBFLY price, or click the "Trade" button to go to the trading page and view a more detailed live order book and depth chart.

You can use eligible tokenized stocks (rTokens) as margin for futures trading on Bitget.

Bitget has launched a cross-asset unified trading account (UTA) and multi-asset margin mode, allowing users to include eligible tokenized assets linked to major U.S. stocks and ETFs (such as Apple, Tesla, Nvidia, Microsoft, Amazon, SPY, and QQQ, among hundreds of other assets) in a unified margin pool.

Key points:

Multi-asset collateral: Once you enable the unified trading account or multi-asset margin mode, these tokenized stocks not only provide exposure to the price of the underlying assets but can also be used as margin for derivatives or futures trading, such as USDT-M Futures.

Improve capital efficiency: There's no need to sell your tokenized assets or convert them into stablecoins—you can use them directly as margin to improve the overall capital efficiency of your portfolio.

Risk warning: Using tokenized assets as collateral increases your account's overall leverage. If the price of a tokenized stock declines, you may face a margin call or liquidation, so be sure to manage your position risk carefully.