Tokenized Stock Holders Double as Trading Volume Jumps Sharply

The number of tokenized stock holders more than doubled over the past month, reaching 1.31 million, according to data from RWA.xyz. Monthly transfer volume climbed nearly 180 percent during the same period to 23.13 billion dollars, while monthly active addresses rose 34.62 percent to almost 572,000. The total distributed value of tokenized stocks also increased 5.9 percent, reaching 2.38 billion dollars.

Leading Platforms and Assets

Ondo currently leads the market with about 872 million dollars in distributed value, followed by Kraken’s xStocks at 557.8 million dollars and Binance’s bStocks at 521.8 million dollars. bStocks, which launched in June, has already closed to within roughly 36 million dollars of xStocks in total distributed value.

Among individual tokenized assets, Securitize ranks highest at 145.2 million dollars, followed by Strategy PP Variable xStock at 135.6 million dollars and Ondo’s tokenized Circle shares at 99.7 million dollars.

Momentum Builds From Private-Market Push

This surge in tokenized equities follows a broader wave of crypto platforms expanding into private-market and pre-IPO products earlier this year, particularly around SpaceX ahead of its June 12 public listing. In the lead-up to that debut, exchanges including Binance, Coinbase, Kraken, Bybit, Bitget, and Blockchain.com introduced products tied to SpaceX, ranging from pre-IPO exposure to perpetual futures and proxy tokens.

That push saw strong demand, including 557 million dollars raised through a Binance campaign ahead of the listing, but did not unfold without setbacks. Binance, Bybit, and Bitget Wallet ultimately canceled their tokenized SpaceX IPO campaigns after xStocks failed to secure enough underlying shares to meet investor demand, leading to refunds for subscribers.

Despite that setback, tokenized SpaceX exposure through Binance’s bStocks has since grown to 67.9 million dollars in distributed value following the company’s June 12 listing, making it the seventh largest individual tokenized asset tracked by RWA.xyz.

Part of a Larger Tokenization Trend

The growth in tokenized equities reflects a broader expansion within the real world asset tokenization sector, which Standard Chartered forecasts could grow into a 4 trillion dollar market by the end of 2028.