Tokenized stocks market cap gains to record $2.3B
Tokenized stocks hit a record $2.3 billion in market capitalization, driven by growing demand for blockchain-based equity exposure. Ethereum holds the largest share of the market at 34%, followed by BNB Chain at 30% and Solana at 23%. The biggest contributors were Kraken’s xStocks at $507 million and Binance’s bStocks at $334 million, while Ondo Finance remained the largest issuer with $955 million in onchain equities. Crypto platforms are increasingly tokenizing traditional assets, often giving non-U.S. investors access, plus fractional ownership and 24/7 trading. Binance has expanded zero-commission trading for more than 7,000 U.S. tokenized stocks, and Coinbase has launched commission-free stock and ETF trading with 24/5 availability. Kraken’s xStocks, launched in 2025, surpassed $25 billion in cumulative volume. Broader tokenized RWAs have surged, but stocks remain a small slice of the $34 billion market at about 5.5%, far behind tokenized U.S. Treasuries and commodities.
