Bit24's Window to Sell Tesla Tokens Closes at Noon on Sunday, 27 September 2026, and Remaining Balances Convert to Rial: Nobitex Shuts Its Markets for Seven US Stock Tokens on Saturday

Bit24 says holders of five tokens linked to Tesla and SpaceX shares have until 12:00 noon on Sunday, 27 September 2026 (5 Mehr 1405) to sell; after that, remaining balances are converted automatically and their rial equivalent is credited to the user's wallet. Nobitex closes its markets for seven US technology stock tokens, Tesla among them, at 11:00 on Saturday, 26 September. The real question for a holder is what the conversion takes away: the token's value stays, but its link to the dollar and to Tesla's share price is cut.

Background

A stock token is a digital asset whose price tracks a listed company's share. TSLAX, traded on Bit24 and several other Iranian exchanges, belongs to the xStocks family. Its issuer says on its website that each token is backed 1:1 by the underlying share held in custody and can be redeemed for its cash value or the share itself, and the same page states the tokens are not available to residents of "sanctioned jurisdictions".

In its official notice, Nobitex attributes the delisting to "the notification and requirement of regulatory bodies regarding the offering and trading of financial instruments based on company shares", and Bit24 also cites "the requirements of regulatory bodies". The text of that order has not been published. According to Way2Pay, Bitpin had already dropped its Tesla and SpaceX tokens with a sell deadline of noon on 14 September, and Ramzinex is closing its SpaceX token market. The same report recalls that Meysam Zohourian, deputy chair of the parliament's economic committee, questioned the economy and communications ministers in the month of Mordad about whether exchanges were licensed to offer products linked to US shares.

The numbers

• Nobitex: seven tokens (SpaceX, NVIDIA, Apple, Alphabet, Amazon, Tesla and Microsoft); markets close at 11:00 on Saturday, 26 September 2026; SpaceX margin positions closed automatically at 16:00 on Wednesday, 23 September; SpaceX staking pools exit automatically at 12:00 on Monday, 28 September (Nobitex notice, read on 25 September 2026)
• Bit24: buying, deposits and withdrawals of TSLAX, TSLAB, TSLAON, SPCXX and SPCXB halted from the evening of 24 September; sell deadline 12:00 noon on Sunday, 27 September 2026 (ArzDigital and Tahlil Bazaar, 25 September 2026)
• TSLAX token price: $382.03 at 16:22 Tehran time on Friday, 25 September 2026 (ArzDigital)
• Tesla's Nasdaq close: $377.94 in the Thursday, 24 September 2026 session, and $381.30 in Friday pre-market trading (StockAnalysis)
• Tether rate: 232,682 tomans on Sahmino (16:19 on Friday, 25 September), 232,691 tomans in Wallex's latest trade (16:23) and 232,021 tomans on ArzDigital (16:22)
• Toman value of one TSLAX token: about 88.9 million tomans ($382.03 times 232,691 tomans, Sahmino calculation)
• Tether on Sahmino: 192,471 tomans at the 22 July 2026 close and 232,682 tomans on 25 September, a 20.9% rise
• Global TSLAX market value: about $72.3 million with 189,000 units in circulation (ArzDigital, 25 September 2026)

Drivers

The mechanism: a token's toman value is the product of two numbers. The toman equivalent of any stock token equals its dollar price times the tether rate. While the token sits in a wallet, both numbers act on it: if Tesla rises 1% or tether gets 1% dearer, the token's toman value rises by roughly 1% too. At conversion, that multiplication is done once, at a price the exchange sets, and the result is fixed in rial. From that moment, neither Tesla's moves nor tether's moves affect the balance any more.

Why it matters. Tether on Sahmino rose about 20.9% between 22 July and 25 September 2026. For a stock token holder, that part of the return came through the dollar, not through the share. At today's price, every 1,000-toman move in tether shifts the value of one TSLAX token by about 382,000 tomans. After conversion to rial, that sensitivity drops to zero.

The exchange sets the conversion price. Nobitex writes that remaining balances convert to rial "based on the convertible price for Nobitex", that this price "may fluctuate with market conditions", and that the exchange bears "no responsibility for possible price fluctuations of this token during the conversion period". Bit24 has not announced a conversion rate or time either. A holder who does nothing before the deadline knows neither the conversion price nor its exact timing in advance.

Two paths for a holder. Nobitex's notice names both rial and tether markets for the SpaceX token. Selling in a tether market before it closes moves the balance into tether and keeps its dollar link, though it cuts the link to the share. Waiting for automatic conversion turns the balance into rial at a rate the exchange sets. This report recommends neither; the aim is to make the difference clear.

Outlook

Tether's daily volatility over the last twenty days has been about 1.1%, and its twenty-day average on Sahmino is 230,555 tomans. The lowest rate in that window was 224,998 tomans on 23 September. Until noon on Sunday, Bit24's deadline, a simple yardstick for a holder is to compare the announced conversion price with the token's dollar price times the tether rate at the same hour. If the gap is large, that gap is the cost of automatic conversion.

Our previous call on Ghachin (holding above 4,093 rials until 22 October 2026) still stands on the 23 September close of 4,560 rials, the last session before the holiday.

Conclusion

Delisting US stock tokens does not zero their value; it cuts the balance's link to the dollar and to the share at the moment of conversion, at a price the exchange sets. Our reading: tether stays above 230,000 tomans until Bit24's deadline, as long as tether's daily volatility stays near the 1% of the last twenty days; a tether print below 230,000 tomans on Sahmino invalidates this reading. The reading is as of 16:19 on Friday, 25 September 2026.

What to watch

• The conversion price Nobitex announces after its markets close on 26 September, against the token's dollar price times the tether rate at the same hour
• Tether until noon on Sunday, 27 September, relative to 230,000 tomans
• New notices from other exchanges on stock tokens, and publication of the regulator's order
• Tesla's Nasdaq close on Friday, 25 September, the basis for the token's dollar price in its final trading hours

To run the same calculation, check the live tether rate on Sahmino's tether page in Rasad's FX board and multiply it by the token's dollar price. For how the tether rate serves as the free-market dollar proxy, see our July 14 market pulse. For the difference between a balance on an exchange and one in your own wallet, read the lesson Who Actually Holds Your Crypto?.