Trading volume in tokenized stocks more than doubled over the past month. According to analysts, the surge reflects rapid expansion of tokenization infrastructure by both crypto companies and traditional financial institutions.
According to RWA.xyz, trading volume in tokenized stocks exceeded $8.4 billion over the past 30 days. During the same period, the total value of tokenized equities in circulation rose 43% to $2.16 billion, while the number of holders increased 17% to more than 409,000.
Growth of the tokenized stock market in 2025–2026. Source: RWA.xyz.
The strongest growth was recorded by the sector's largest platforms. Assets on Figure increased 935%, Securitize grew 332%, and xStocks expanded by about 62%.
Ondo remains the market leader by assets under management with approximately $846 million, followed by xStocks ($708 million), Securitize ($306 million), and Figure ($239 million).
Tokenized equities outpace the broader RWA market
According to the data, the tokenized stock market has expanded from roughly $378 million to $2.16 billion over the past year, representing growth of nearly 471%.The sector is significantly outperforming the broader real-world asset (RWA) market. Over the past month, the total value of all tokenized RWAs increased about 4% to $33.5 billion, while the market for tokenized U.S. Treasuries remained largely unchanged.
The increase in demand coincided with the launch of new products by major industry players. Ahead of the SpaceX IPO, Kraken, Bybit, and Bitget Wallet gave users access to the company's tokenized shares through the xStocks infrastructure, with demand exceeding the available supply.
Competition intensifies
The market's expansion is being driven not only by crypto firms but also by traditional financial institutions.Recently, Securitize became the first public company to issue tokenized versions of its own shares on the Solana and Avalanche blockchains following its New York Stock Exchange debut.
In addition, DTCC plans to launch a service for tokenized securities, while the New York Stock Exchange and Intercontinental Exchange are developing a platform for trading tokenized stocks and ETFs.
Earlier, Ondo Finance launched tokenized versions of the BlackRock iShares Core S&P 500 ETF (IVV) and Micron shares. The company said the framework enables tokenized securities to be issued while preserving the traditional custody and settlement infrastructure.
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