xStocks has launched five native tokenized stock and ETF spot markets on Hyperliquid: MUx, SKHYx, NVDAx, QQQx, and SPYx. The markets support 24/7 trading, with each asset offering about $1 million in liquidity and average spreads of 8 to 12 basis points. The company said additional assets will be listed over time. xStocks also said the tokens provide only economic exposure to the underlying assets rather than direct ownership, are not available to U.S. persons, and remain subject to geographic restrictions.