Token Terminal expands tokenized stock dataset to 5,859 tokens across 18 chains

Token Terminal has released a dataset covering 5,859 tokenized stock tokens spread across 18 blockchains.

The on-chain analytics provider is building a standardized view of a market that has spread across issuers, chains and jurisdictions.

What the new dataset covers

Two issuers account for a large share of the latest additions. Stove contributed 2,455 tokens, while Robinhood added roughly 2,000.

Token Terminal tracks standardized metrics for each asset, including market cap, holder counts and trading volume.

The company launched its dedicated tokenized assets section in November 2025. At the time, it covered about 300 assets.

By September 2026, that coverage had grown to more than 4,600 assets from more than 300 issuers. The latest figure of 5,859 stock tokens marks another step up from there.

The size and shape of the market

As of late October 2026, the tokenized stock market was estimated at approximately $3.7 billion to $4.64 billion in market cap.

Roughly 95% of that value is tied to US-listed equities or ETFs.

The issuers, however, are mostly not American. Roughly 90.4% of tokenized stocks are issued by non-US entities.

Jersey leads with a 28.9% share of issuance, and Abu Dhabi also features prominently among offshore jurisdictions.

More than 5 million holders own tokenized stocks, reflecting meaningful trading activity across the sector.

Hundreds of millions of dollars in tokenized stocks are locked across various decentralized finance protocols, where the tokens can be used in lending, trading and other on-chain applications.

One custodian, a lot of eggs

The most striking figure in the data concerns custody. Alpaca, a US broker-dealer, is responsible for 81% to 83.5% of the tokenized stock market cap across multiple issuers.