Tokenized equities reached 1.31 million holders over the past month, as monthly transfer volume surged 179% to $23.13 billion and distributed value rose 5.9% to $2.38 billion.

The number of tokenized stock holders has more than doubled over the past month to 1.31 million, according to RWA.xyz data.

  • Monthly transfer volume surged nearly 180% over the same period to $23.13 billion, while

  • monthly active addresses increased 34.62% to nearly 572,000.

  • The total distributed value of tokenized stocks also rose 5.9% to $2.38 billion.

At the time of writing,

  • Ondo leads the market with about $872 million in distributed value, followed by

  • Kraken’s xStocks at $557.8 million, and

  • Binance’s bStocks at $521.8 million.

bStocks launched in June 2026 and is already within roughly $36 million of xStocks in distributed value.

 

INSIGHTS | Why Real-World Assets (RWAs) Became the Largest Trading Category on the Leading DEX

 

According to RWA.xyz, the largest individual tokenized assets by distributed value include:

  • Securitize at $145.2 million,

  • Strategy PP Variable xStock at $135.6 million, and

  • Ondo’s tokenized Circle shares at $99.7 million.

The recent growth in tokenized equities follows a wave of crypto platforms pushing into private-market and pre-IPO products in early 2026, particularly around SpaceX ahead of its June 2026 public-market debut.

In the months leading up to the listing, Binance, Coinbase, Kraken, Bybit, Bitget and Blockchain.com rolled out products tied to SpaceX ranging from tokenized pre-IPO exposure to perpetual futures and proxy tokens.

 

INTRODUCING | You Can Now Access and Trade Pre-IPO SpaceX Contracts on Coinbase

 

Despite substantial demand, including $557 million drawn by a Binance campaign ahead of the listing, the push did not go entirely to plan. Binance, Bybit, and Bitget Wallet canceled their tokenized SpaceX IPO campaigns after xStocks failed to secure enough underlying shares to meet demand, triggering refunds for subscribers.

 

CASE STUDY | The SpaceX IPO On-Chain Allocations Failure Exposes the Biggest Underlying Risk Plaguing Tokenization

 

Despite the failed pre-IPO allocations, tokenized SpaceX exposure through Binance’s bStocks has grown to $67.9 million in distributed value since the company’s June 12 listing, ranking seventh among individual tokenized assets tracked by RWA.xyz data.

The growth in tokenized equities comes amid a broader expansion in real-world asset tokenization, which Standard Chartered forecasts could become a $4 trillion market by the end of 2028.

 

 

 

MILESTONE | Real-World Assets (RWAs) Match Bitcoin Volumes on the Largest Perpetuals Exchanges

 

 

 

 

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