Tokenized stock market reaches $3B across 3,374 assets

The market for tokenized stocks has reached roughly $2.8 billion across 3,374 assets, according to a Sentora analysis. The sector grew from hundreds of millions to nearly $3 billion in under a year, crossing $1 billion around March 2026 and doubling again by mid-July. The figure represents more than a tenfold increase from early 2025 levels.

Ethereum holds 49% of the total market cap. Solana accounts for 23%, and BNB Chain follows at 22%. Together the three chains represent about 94% of the market, Sentora said. BNB Chain has consistently held over 30% in earlier periods, helped by low transaction fees that make small retail positions practical.

Among platforms, Ondo leads with roughly $871 million in distributed value. xStocks sits at $571 million, and bStocks is close behind at $567 million. Ondo and xStocks together account for over $1.4 billion. The concentration among the top three issuers mirrors the blockchain distribution, with most of the market flowing through a small set of platforms.

The underlying equities include Circle Internet Group and SpaceX among individual names, along with ETFs such as SPY and IVV. Monthly transfer volumes have exceeded $22 billion, and the holder count has passed one million, Sentora said.

Each token represents actual shares held by a custodian. The token tracks the underlying price and, on some platforms, pays dividends. This structure distinguishes them from synthetic derivatives, Sentora noted. Investors can trade around the clock with settlement in minutes, bypassing the two-day cycle of traditional exchanges. The 24/7 trading and instant settlement have appealed to crypto-native traders who value the same efficiency they get with spot and derivative markets.

The fractional structure lowers the entry barrier. A buyer can purchase $10 worth of exposure to a stock that would cost hundreds at a conventional broker. Fractional ownership also lets platform operators offer high-priced stocks without requiring a full share purchase. Demand has been strongest from retail investors outside the U.S. who want access to American equities without a brokerage account.

Tokenized stocks are issued through platforms that partner with regulated custodians. Redemption processes vary, but the underlying security is always held by a third party, Sentora said. The holder base includes both individuals and small institutions.

The growth mirrors trends on other platforms. Bybit added Meta and Tesla xStocks as tokenized equities hit $1.48 billion earlier this year.