Tokenized Stocks Reach $29.5B Monthly Volume as Ondo Leads
Tokenized stocks reached a record $29.5 billion in trading volume in the 30 days to 29 August, up 415% from the previous month, according to RWA.xyz. Active on-chain addresses exceeded 1.3 million, while tokenized stock holders rose 167% to 2.36 million.
The value of tokenized stocks distributed on-chain increased 1.45% over the month to $2.54 billion, compared with $344 million a year earlier, an annual rise of about 637%. The gap between trading volume and outstanding value suggests sharply higher turnover and participation, rather than an equivalent increase in new issuance.
Market activity remains concentrated. Ondo, Kraken’s xStocks and Binance’s bStocks accounted for 81% of the tokenized stocks market. Ondo led with $842.8 million, followed by xStocks at $609.3 million and bStocks at $599.9 million. Securitize Corp.’s tokenized stock was the largest individual asset at about $163 million, ahead of Strategy PP Variable xStock at $136 million and Ondo’s Circle Internet Group token at $109 million.
Competition is shifting from listing more stocks to improving DeFi utility, including lending collateral, automated portfolios and 24/7 trading. Coinbase, Bitwise, Bybit and Robinhood-linked platforms are also expanding their tokenized stocks products. The growth supports broader real-world asset adoption, but traders should watch concentration, liquidity, regulation and whether on-chain distributed value begins accelerating alongside trading volume.
Neutral
The surge in tokenized stocks activity is positive for the broader real-world asset and DeFi sectors, but it does not create a clear, immediate price catalyst for the ONDO token or other cryptocurrencies. The data shows stronger turnover, more active addresses and rapid growth in holders, which could support long-term demand for blockchain-based financial infrastructure.
In the short term, however, the sharp difference between trading volume and distributed on-chain value may indicate speculative or high-frequency activity rather than sustained capital inflows. Market concentration among Ondo, xStocks and bStocks also raises liquidity and platform-dependence risks. Regulatory uncertainty could further limit adoption or trigger volatility. Traders may treat the development as ecosystem-positive, but the absence of direct token demand or cash-flow data supports a neutral price-impact assessment.