Owning TSLAC: Uses, Storage and Risks

TSLAC gives you economic exposure to Tesla shares through an onchain certificate; it is not a Tesla share held directly in your brokerage account. Coinbase Onchain SPV Ltd issues the token, which represents a beneficial interest in a pool of Tesla shares and related property held in segregated custody. The structure is designed to track the shares’ economic performance, but the token and the underlying stock are legally different things.

Each token initially represents a 1:1 beneficial interest in shares. The share-to-token ratio may change to account for distributions, fees, taxes, corporate actions and other adjustments. Dividends and other distributions are generally reinvested after applicable costs, with the benefit reflected in that ratio rather than necessarily paid to you as cash. Authorized Participants can create tokens by providing shares or subscription value. Before holding TSLAC, check the current terms for who can hold it and whether you have any redemption or transfer rights; those rights should not be assumed from the token’s price or ticker.

TSLAC is issued on Base, an Ethereum-compatible blockchain. It is not the native token of Base, and the supplied project details do not identify other supported chains. You need a wallet that supports Base and can handle the token’s contract; seeing a similarly named token or ticker in a wallet does not prove it is the right asset.

Before transferring, confirm the network and token contract using Coinbase’s current token information, and check that the receiving service accepts TSLAC on Base. A transfer sent on the wrong network, or to an address or service that cannot receive the token, may be difficult or impossible to recover. If you use a self-custody wallet, keep your recovery phrase offline and never share it. If you hold through a platform instead, check its custody, withdrawal and account-access terms. Onchain transferability does not mean that every wallet, exchange or DeFi application will support the token, or that every holder can access the same services.

As of 2026-11-08, TSLAC’s reported circulating and total supply were both about 6,434.18 tokens. No maximum supply is reported. These figures can change as tokens are created or otherwise adjusted, so they are a dated snapshot, not a permanent limit.

The initial 1:1 share-to-token relationship is not necessarily fixed: the ratio may change for reinvested distributions, fees, taxes and corporate actions. That means token count alone does not tell you the exact number of Tesla shares represented at a later date. As of the same date, the token’s reported price was about $357.51, but a token price is not a guarantee that you can sell at that amount. Market access, trading liquidity, market hours and differences between token venues and the underlying stock can affect the price you receive.

If you hold TSLAC in a self-custody wallet, protect both your wallet credentials and your access to Base. Store the recovery phrase offline, keep it private, and test any transfer with a small amount only when practical. Check the contract and network before approving transactions, especially when a site or app asks you to connect your wallet or grant token permissions.

The main risks are broader than wallet security. Tesla’s share price can fall, and TSLAC may trade at a premium or discount to the economic value it is intended to represent. You also rely on the issuer, the custody arrangement, the tokenization infrastructure and the legal terms governing your beneficial interest. Smart-contract, blockchain and wallet failures can disrupt transfers; low liquidity can make selling harder or more costly. Eligibility rules or changes in regulation may restrict access, and token ownership does not necessarily provide the same rights as direct share ownership. Read the current offering and transfer terms before relying on the token for exposure or liquidity.