How is it a "transferable share"? When I buy a crypto token what do I own a share of? And you can't say "a share of the total supply of tokens" because by tha

How is it a "transferable share"? When I buy a crypto token what do I own a share of? And you can't say "a share of the total supply of tokens" because by that definition anything is a security, e.g. a gold coin would be a share of the total supply of gold coins. And it has been clearly decided by the courts that such things are not securities. Even things that are much more "security" like, e.g. a piece of a syndicated bank loan, are not considered securities.