Tokenized Stocks Hit Record $2.3 Billion Market Cap

The global market value of tokenized stocks climbed to a record $2.3 billion on Wednesday, as more investors turned to blockchain-based versions of traditional equities.

Where the Growth Is Coming From

Ethereum currently holds the biggest share of this market at 34%, with BNB Chain close behind at 30% and Solana making up 23%, according to data shared by Token Terminal. The sharpest single day gains came from Kraken’s xStocks product, now worth $507 million, and Binance’s bStocks, at $334 million. Ondo Finance still holds the top spot overall as the largest issuer of tokenized equities, with $955 million in onchain stock value.

Why Exchanges Are Building These Products

More crypto platforms are bringing familiar investment products onto blockchain networks, often making them available to investors outside the United States who otherwise couldn’t access them. Tokenized stocks also let people buy fractional shares and trade around the clock, unlike traditional stock markets with fixed hours.

Binance opened commission-free trading on more than 7,000 US tokenized stocks for eligible users back on June 1. Coinbase introduced similar commission-free US stock and ETF trading with near-constant availability in December 2025. Bitget added a proxy product tied to SpaceX’s pre-IPO shares in April, while Bitpanda has laid out plans to expand into roughly 10,000 stocks and ETFs. Kraken, one of the earliest movers in this space, launched xStocks back in April 2025, and that product has already surpassed $25 billion in cumulative trading volume.

Tokenized Real-World Assets Growing Faster Overall

Stocks still make up a relatively small piece of the broader tokenized real world asset market. Binance Research reported that RWA tokenization overall grew 589% between early 2025 and June 2026, driven mainly by government bonds and money market funds. Tokenized precious metals also picked up steam, adding about $1.5 billion in value and growing 39% over the same stretch.

Breaking Down the Bigger Picture

Despite the record numbers, tokenized stocks account for only around 5.5% of the total $34 billion RWA market, according to RWA.xyz. Tokenized US Treasury debt remains the dominant category by far, worth roughly $15 billion and making up 44% of the market, followed by tokenized commodities at $4.5 billion, or about 13% of the total.