Tokenized asset markets display distinct behaviors from conventional trading, Dune analysis reveals
A Dune analysis reveals that tokenized asset markets exhibit unique trading behaviors compared to conventional markets, as real-world asset value hits $34.5 billion.
According to fresh analysis from Dune that examines both onchain and off-chain market activity across multiple asset classes including equities, credit, commodities and cash-equivalent instruments, tokenized asset markets demonstrate trading and investment behaviors that diverge significantly from their traditional counterparts.
The discrepancy was most notable within the equities sector, where Dune's research revealed that individual stock tokens represented 81% of the total tokenized equity spot supply, with exchange-traded funds (ETFs) comprising the remaining 19%.
According to Armand Khatri, who serves as head of ecosystem at Ondo Finance, the tokenization process empowers investors with greater autonomy in their asset selection decisions by minimizing their reliance on what local intermediaries choose to offer.
The investor decides which they want
Armand Khatri, referring to the choice between single-company and index exposure
According to Dune's findings, tokenized real-world assets reached a valuation of $34.5 billion by Aug. 31, representing an increase of more than 140% compared to the same period one year prior, with cash equivalents continuing to represent the largest portion of supply while equities emerged as the most frequently traded category.
Tokenized equities remain a fraction of global markets
Additional data from Binance Research that was referenced by Binance co-CEO Richard Teng indicated the tokenized equity market stood at $4.43 billion as of Sept. 15, reflecting a 390% increase throughout 2026 yet representing merely 0.0029% of the $151.9 trillion worldwide listed-equity marketplace.
Under its baseline forecast scenario, Binance Research estimated that tokenized equities could achieve approximately $349 billion in market value by 2030. According to Teng, while tokenization has the potential to transform the ways investors gain access to equity markets, he emphasized that such a transformation "won't happen overnight."
Regulatory bodies and exchanges in the United States have likewise implemented measures to broaden tokenized trading capabilities. On Sept. 17, the US Securities and Exchange Commission issued a temporary exemption that permits restricted onchain trading activities for tokenized stocks listed on US exchanges.
Additionally, the New York Stock Exchange in partnership with Blockchain.com revealed their intentions to provide tokenized versions of US-listed stocks and ETFs via NYSE's forthcoming digital trading platform, pending regulatory approval.