Citigroup (NYSE:C) is launching a blockchain-based venture letting wealthy and institutional clients trade private company shares alongside public stocks, as Wall Street races to broaden access to pre-IPO names like SpaceX and Anthropic.

Tokenized Depositary Receipts Put Private Shares On The Same Rail As Public Stocks

The venture works through tokenized depositary receipts, securities that let investors buy stakes in private companies and hold them within the same account as public equities, The Wall Street Journal reported on Thursday.

Citi issues and custodies the securities on a blockchain operated by Switzerland-based SIX, with plans to extend to other networks.

“This lets clients put private-company shares essentially right next to their Apple stock,” said Artem Korenyuk, Citi’s global lead for digital assets. 

The venture launched with an initial trade in which wealth clients invested in Kaleido, an institutional tokenization platform. 

It is currently open to foreign investors only, with US access planned for a later phase.

Citi positioned the tokenized receipts as a cleaner alternative to special-purpose vehicles, which have faced regulatory scrutiny and opacity concerns. 

“Investors don’t know what they’re actually buying,” Korenyuk said of SPVs. “This is a very clear alternative model.” The infrastructure is also designed for other banks to adopt, extending its potential reach across Wall Street.

Citi Stock Rides Upper Channel With Earnings Catalyst On July 14

Citi is up 1% Thursday, more than doubling from $57 lows in early 2025. All four EMAs sit bullishly stacked below with the 20 EMA at $129.83, 50 EMA at $125.80, 100 EMA at $120.56, and 200 EMA at $111.40. 

RSI sits at 63.15, healthy but approaching the upper channel boundary at $136 to $137 where prior rejections have led to pullbacks toward the channel midpoint.

The next catalyst is the July 14 earnings report. Analysts expect EPS of $2.60, up from $1.96 a year ago, on revenue of $23.23 billion against $21.67 billion prior year. 

The stock carries a consensus Buy rating with an average price target of $145.04. Wells Fargo (NYSE:WFC) holds the most bullish target at $162, followed by Keefe Bruyette and Woods at $153 and JPMorgan Chase (NYSE:JPM) at $135.50.

A break above $137 on the upper channel accelerates toward $140 to $145. Losing the 20 EMA at $129.83 pulls back toward $125 to $120 before the next leg higher.

Image: Shutterstock