🚨B tokenized stocks on the BNB Chain break through $1.3 billion, capturing 45% of the market! Did Ethereum really get overtaken this time?

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According to Blockworks data, the market cap of tokenized stocks on BNB Chain has surpassed $1.3 billion, representing about 45% of the $2.9 billion tracked market. In the same period, Ethereum was only around $0.8 billion, Solana about $0.55 billion, and Avalanche around $0.17 billion.

The key driver is bStocks: when it launched in June, its size was just $5.6 million. In 7 weeks, it surged to $500 million in AUM. The number of underlying assets grew from 5 to more than 67. Cumulative trading volume exceeded $19 billion, enabling 24/7 trading, token-to-underlying and on-chain settlement, and even integration with lending and automated strategies.

But don’t jump to conclusions—overall, Ethereum still leads the RWA track: in a $38.4 billion market, Ethereum accounts for $17.27 billion (45%), while BNB Chain is just $5.7 billion (15%). Leading in tokenized stocks doesn’t automatically mean全面领先. BNB Chain’s current dominance is essentially propped up by bStocks, and that product concentration could actually be a hidden risk.

Risk warning: bStocks is fundamentally a financial instrument certificate, not direct shares. Holders do not automatically become registered shareholders, and it is subject to legal jurisdiction restrictions. BNB’s current price is about $700. If it falls below $680, it may retrace toward the $660–$670 range.

Tokenized stocks are rewriting the asset-on-chain landscape, but having one product hold up half the sky can also be the biggest soft spot.

👀 Do you think the tokenized stocks sector will keep growing? Which chain will have the last laugh?

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