Binance’s bStocks just crossed $1 billion in assets under management. It took them about four months from the June 11 launch.
They started with only five tokens. Now they list close to 100 U.S. stocks and ETFs. Every token is backed one-to-one by the real share, and you can redeem it for the actual stock, not just the cash value.
Trading volume has been heavy. Total volume since launch is over $40 billion. That works out to more than $300 million a day on average. On top of that, users have moved about $6 billion back and forth between regular stock positions and the bStock tokens at the same one-to-one rate.
One number stands out more than the headline. In July, only 38% of bStocks volume happened while U.S. markets were open. For normal U.S. stocks, almost 90% of volume stays inside those hours. The rest of the bStocks activity took place when Wall Street was closed.
People are also using the tokens beyond just buying and selling. Borrowing against them as collateral jumped sharply once the option opened up. A portion has already moved into DeFi protocols as well.
Tokenized stocks as a whole grew fast this year. Their total market size more than quadrupled and crossed $3 billion by late September. On-chain transfers of these tokens were huge in the third quarter, and bStocks made up a very large share of that activity at times.
The $1 billion figure is real. The volume is high because people can trade, convert, and use the tokens around the clock without the usual broker steps. That combination is what most of the early numbers are actually showing.
#Bstock #Binance
They started with only five tokens. Now they list close to 100 U.S. stocks and ETFs. Every token is backed one-to-one by the real share, and you can redeem it for the actual stock, not just the cash value.
Trading volume has been heavy. Total volume since launch is over $40 billion. That works out to more than $300 million a day on average. On top of that, users have moved about $6 billion back and forth between regular stock positions and the bStock tokens at the same one-to-one rate.
One number stands out more than the headline. In July, only 38% of bStocks volume happened while U.S. markets were open. For normal U.S. stocks, almost 90% of volume stays inside those hours. The rest of the bStocks activity took place when Wall Street was closed.
People are also using the tokens beyond just buying and selling. Borrowing against them as collateral jumped sharply once the option opened up. A portion has already moved into DeFi protocols as well.
Tokenized stocks as a whole grew fast this year. Their total market size more than quadrupled and crossed $3 billion by late September. On-chain transfers of these tokens were huge in the third quarter, and bStocks made up a very large share of that activity at times.
The $1 billion figure is real. The volume is high because people can trade, convert, and use the tokens around the clock without the usual broker steps. That combination is what most of the early numbers are actually showing.
#Bstock #Binance