Tokenized assets don’t always mirror traditional markets, Dune finds
Tokenized markets show trading and investment behavior that differs from traditional markets, especially in equities. Dune data found tokenized real-world assets reached $34.5 billion by Aug. 31, up more than 140% year over year. Cash-equivalent products still make up most tokenized supply, but equities are the most actively traded segment. Within tokenized equities, single stocks dominate supply at 81%, while ETFs account for 19%, suggesting investors are choosing more direct exposure rather than broad index products. Tokenized equities remain tiny relative to global markets: Binance Research estimated a $4.43 billion market as of Sept. 15, equal to just 0.0029% of global listed equity value. Regulators and exchanges are beginning to support the trend, including a temporary SEC exemption for limited onchain trading and NYSE plans for tokenized stocks and ETFs.
