Blockchain-based equity products hit unprecedented $2.3B milestone
Tokenized equity products have reached an all-time high market capitalization of $2.3 billion, driven by growing investor demand for cryptocurrency exchange-listed stock tokens.
On Wednesday, the worldwide market capitalization of blockchain-based stock tokens reached an unprecedented $2.3 billion, reflecting heightened investor interest in equity products built on distributed ledger technology.
According to a Wednesday X post from data aggregator Token Terminal, the Ethereum network commanded the dominant market share at 34%, with BNB Chain capturing 30% and Solana network holding 23% of the market.
Token Terminal data revealed that the most significant growth originated from Kraken exchange's xStocks platform, which represented $507 million in tokenized equity value, and Binance's bStocks offering, which stood at $334 million. Despite this growth, Ondo Finance maintained its position as the leading tokenized stock issuer with $955 million in blockchain-based equities.
An increasing number of cryptocurrency platforms are introducing traditional investment instruments onto blockchain infrastructure, frequently making these assets accessible to investors located beyond United States borders. These tokenized stock offerings can additionally provide investors with the benefits of fractional ownership and continuous trading capabilities.
On June 1, Binance, the world's leading cryptocurrency exchange, introduced commission-free trading access to more than 7,000 tokenized US stocks for qualified users, representing part of its broader strategy to transform into a multi-asset trading platform. Meanwhile, Coinbase introduced commission-free trading for US stocks and ETFs with 24/5 market availability in December 2025.
During April, cryptocurrency exchange Bitget introduced a proxy product linked to the pre-initial public offering (IPO) stage of SpaceX, the aerospace manufacturing and space transportation company owned by Elon Musk.
During January, Bitpanda, the Vienna-headquartered crypto exchange, announced intentions to broaden its product lineup to encompass approximately 10,000 stocks and exchange-traded funds (ETFs).
In April 2025, Kraken introduced xStocks, providing access to 11,000 US-listed stocks and ETFs, positioning itself as one of the first major cryptocurrency-native platforms to offer such services. Within roughly eight months following its debut, xStocks' cumulative trading volume surpassed $25 billion.
Tokenized RWAs surge despite crypto market pullback
According to a June report published by Binance Research, the tokenized real-world assets (RWAs) market experienced a remarkable 589% increase between early 2025 and June 2026, with government bonds and money market funds driving the expansion.
During this same timeframe, tokenized precious metals drew approximately $1.5 billion in value, demonstrating a 39% increase.
Nevertheless, tokenized stocks constitute only a minor portion of the overall tokenized RWA ecosystem, representing merely about 5.5% of the $34 billion RWA market capitalization.
Data provider RWA.xyz indicates that approximately $15 billion in tokenized US Treasury debt comprises the dominant segment, representing 44% of the RWA market, with $4.5 billion in tokenized commodities following as the second-largest category at 13%.