Tokenized stock trading volume on Solana reached $4.4 billion—an all-time monthly high.
Cumulative $12.4 billion in 2026.
Raydium handled about $6.1 billion of that, around 90% of the total platform.
On September 12, daily trading hit $200 million, exceeding the combined trading volume of Nasdaq and the NYSE’s own tokenized-stock venues.
This is no longer a test.
Put a few figures together:
On Solana, there are currently more than 700 tokenized stocks and ETFs, with assets under management of about $465 million, accounting for roughly 95% of the global on-chain tokenized-stock market.
[xStocks] (one of the main providers) has cumulative trading volume exceeding $6.0 billion—54% of Solana’s tokenized-stock historical total.
What’s behind this surge:
On September 17, the SEC issued an "Innovation Exemption"—allowing on-chain AMM-matched trading for tokenized NMS stocks, giving this track its first clear compliance pathway. Before that, what was running on Solana were mainly synthetic exposure products.
There’s a contradiction worth noting: today’s $4.4 billion monthly volume on Solana is largely achieved through synthetic products—yet the SEC’s Innovation Exemption explicitly excludes synthetic products, recognizing only tokenized stocks that are fully backed by underlying assets.
That means: the $4.4 billion volume and the $4.4 billion that is compliant are not fully overlapping.
Coinbase is already moving—it has a compliance advantage to capture compliant flows under the SEC exemption framework, while Solana’s existing volume is a first-mover advantage, not a regulatory one.
Who can capture both—that’s the core competition in the second half of tokenized stocks.
$SOL
#solana
#solana代币化股票9月交易量破44亿美元
Cumulative $12.4 billion in 2026.
Raydium handled about $6.1 billion of that, around 90% of the total platform.
On September 12, daily trading hit $200 million, exceeding the combined trading volume of Nasdaq and the NYSE’s own tokenized-stock venues.
This is no longer a test.
Put a few figures together:
On Solana, there are currently more than 700 tokenized stocks and ETFs, with assets under management of about $465 million, accounting for roughly 95% of the global on-chain tokenized-stock market.
[xStocks] (one of the main providers) has cumulative trading volume exceeding $6.0 billion—54% of Solana’s tokenized-stock historical total.
What’s behind this surge:
On September 17, the SEC issued an "Innovation Exemption"—allowing on-chain AMM-matched trading for tokenized NMS stocks, giving this track its first clear compliance pathway. Before that, what was running on Solana were mainly synthetic exposure products.
There’s a contradiction worth noting: today’s $4.4 billion monthly volume on Solana is largely achieved through synthetic products—yet the SEC’s Innovation Exemption explicitly excludes synthetic products, recognizing only tokenized stocks that are fully backed by underlying assets.
That means: the $4.4 billion volume and the $4.4 billion that is compliant are not fully overlapping.
Coinbase is already moving—it has a compliance advantage to capture compliant flows under the SEC exemption framework, while Solana’s existing volume is a first-mover advantage, not a regulatory one.
Who can capture both—that’s the core competition in the second half of tokenized stocks.
$SOL
#solana
#solana代币化股票9月交易量破44亿美元
