Tokenized stocks hit $2.3B record as exchanges expand

Published: 2026-07-16 12:55:57 |

Tokenized stocks market cap has reached a record $2.3B as renewed demand pulls investors toward blockchain-based equities. Token Terminal data shows Ethereum leads with 34% share, followed by BNB Chain (30%) and Solana (23%). The biggest jump came from Kraken’s xStocks at about $507M, alongside Binance bStocks at roughly $334M. Ondo Finance remains the top issuer with ~$955M in onchain equities. Adoption is widening across major venues. Binance opened zero-commission trading for eligible users in 7,000+ U.S. tokenized stocks from June 1. Coinbase added commission-free U.S. stock and ETF trading with 24/5 availability in Dec 2025. Earlier rollouts include Kraken via xStocks for ~11,000 U.S.-listed stocks/ETFs (Apr 2025), plus other proxy/onboarding expansions mentioned by regional exchanges. Traders should note context: the broader tokenized real-world assets (RWA) market rose 589% from early 2025 to Jun 2026, but tokenized stocks still represent only ~5.5% of the ~$34B RWA total. Still, the tokenized stocks record suggests liquidity improvement and stronger crypto–traditional equities integration, which may support positive sentiment in the space even as regulatory scrutiny increases.

Bullish

This is bullish for the tokenized stocks theme because record market cap ($2.3B) and rising exchange access (zero-commission, 24/5 trading, and broader U.S. stock/ETF availability) point to improving liquidity and user demand. Token Terminal’s concentration data (ETH/BNB Chain/SOL) plus large issuer growth (Kraken xStocks and Binance bStocks) suggests near-term flow potential into tokenized equity products. Longer term, the RWA market’s strong growth and deeper crypto–equities integration can sustain narrative momentum, even though tokenized stocks are still a small slice of the overall RWA market. The main counterweight is likely regulatory attention, which can slow certain launches—but the immediate trading setup (more venues, lower friction) still favors upside sentiment for tokenized stocks.