Prism Benchmarks
PRWA 20 · the benchmark for tokenized equities
Every asset class becomes legible when it gets a benchmark. The PRWA 20 tracks the twenty largest companies whose shares trade as tokens in the Prism catalog, capitalization-weighted against a fixed divisor, base 1000 at the start of 2026. One number for the question the market keeps asking: how is tokenized equity doing today?
Methodology
- 01UniverseEvery listed company with at least one tokenization in the Prism catalog, across the xStock, Ondo, Coinbase and Robinhood issuance programs.
- 02SelectionThe twenty largest eligible companies by market capitalization at calculation time. A constituent must have traded since the base date; younger listings become eligible at reviews rather than retroactively.
- 03WeightingCapitalization-weighted. The divisor is fixed so the index equals 1000.00 on its base date, the first trading day of 2026.
- 04PricingListed share prices from the public market data feed. The index measures the market the tokens track; venue-level token premiums and discounts are reported separately on the Parity board.
- 05ReconstructionThe historical series holds today's shares outstanding constant, the standard constant-shares backcast, and is recomputed from source data on every calculation rather than stored.
- 06CadenceThe live level refreshes with the quote feed and the page every few minutes. Constituent reviews follow a quarterly schedule.
The PRWA 20 is an informational benchmark calculated by Prism from public market data; it is not an investable product, carries no fees, and its constant-shares reconstruction is an approximation that a committee-maintained index would refine at each review. Token prices on any single venue can deviate from the listed shares the index measures. Nothing here is investment advice.