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Tokenized stocks hit a record $3.8 billion market cap
BNB Chain, Ethereum, and Solana lead a market that has grown faster than nearly anything on Wall Street this year
Tokenized stocks now carry a combined market cap of $3.8 billion. That is the highest figure the sector has posted, and it sits just under the $4 billion mark.
The leaders are BNB Chain, Ethereum, and Solana.
Where the money is sitting
A tokenized stock is a blockchain token that tracks a real share of a company. It can be traded around the clock and split into small fractions.
The $3.8 billion figure caps a steep climb. Data from Token Terminal, RWA.xyz, and Binance Research shows the market crossed $3 billion for the first time in early September 2026. It hit $3.1 billion at that point.
Those same sources had projected the total may reach $3.5 to $3.7 billion by late September or early October. The market has now cleared the top of that range.
BNB Chain has led the way. It was the first blockchain to push past $1 billion in combined tokenized stocks and ETFs, according to the research.
Earlier snapshots put BNB Chain at $1.0 to $1.1 billion, or a 30% to 34% share of the market. Ethereum held approximately $750 to $830 million, a share of 22% to 25%.
Solana sat close behind at about $680 to $740 million, good for 20% to 23%.
Who is issuing these things
A handful of issuers drive most of the activity. Ondo Finance is the heavyweight, with assets typically above $900 million.
Binance’s bStocks and the xStocks product line are also major players. Securitize rounds out the top tier.
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Securitize’s SECZ product has been a standout. It has pulled in over $430 million since July on its own.
The user side is growing even faster than the dollar side. Holder addresses have climbed to around 4.1 million, a jump of more than 60% in the last 30 days.
Trading is picking up too. Decentralized exchange volume in tokenized stocks reached $3.96 billion during one notable weekend period.
Total value locked in DeFi protocols tied to tokenized equities has reached into the hundreds of millions.
Context: big growth, small pond
Depending on the metric, tokenized stocks have grown somewhere between 300% and 800% year to date.
The US equity market is worth about $80 trillion. Next to that, $3.8 billion is a rounding error with ambitions.
Tokenized stocks also make up roughly 8% of the broader real-world asset market.
The policy backdrop has been shifting alongside the numbers. Discussions involving the CFTC and the SEC’s innovation sandbox have coincided with the rapid expansion.
The NYSE is preparing for tokenized securities trading, according to the research.
What this means
A market can grow its cap through a few large deposits from issuers or funds. Growing holder addresses by over 60% in a month suggests broad retail participation, not just institutional plumbing.
BNB Chain’s lead rests heavily on Binance’s own distribution, through bStocks and its exchange user base. Ethereum and Solana are competing with deeper DeFi ecosystems and a wider spread of independent issuers.
Ondo Finance alone accounts for a large share of the market. Securitize’s SECZ inflows show how quickly one product can move the totals.
Regulation remains the swing variable. The CFTC conversations and the SEC sandbox point toward a more accommodating environment. But tokenized stocks blend securities law with crypto infrastructure, and that overlap has historically been where enforcement actions happen.
Today, crypto-native issuers own this market. If traditional exchanges begin offering tokenized securities directly, they bring regulatory clarity, brand trust, and existing customer bases.