I took a quick look at Token Terminal’s data, as of October 12:
The total market cap of tokenized stocks is $3.9 billion, a record high.
Back in January this year, that number was $719 million.
In nine months, it’s up more than 5x.
The logic of the whole sector isn’t complicated: in traditional U.S. stock markets, retail investors in Asia, South America, and Southeast Asia want to participate, but they either can’t open a U.S. brokerage account, are restricted by foreign exchange controls, or are in the wrong trading time zone — U.S. stocks open Monday through Friday, and in Tokyo that’s 11:30 p.m., when you’re asleep.
What tokenized stocks solve is exactly this time-zone and access problem: 24-hour trading, on-chain settlement, and no need for a U.S. brokerage account.
The landscape of the chains underwent a clear reshuffle this year:
In January, Ethereum accounted for 48%, Solana for 31%, and BNB Chain only 13%.
Now:
BNB Chain $1.2 billion (30%)
Ethereum $841 million (22%)
Solana $753 million (20%)
BNB Chain went from last place to first in less than four months.
The driver behind it is Binance bStocks — it reached $800 million in less than four months, and Binance users can buy directly on the platform, with almost zero friction. The number of addresses holding tokenized stocks on BNB Chain is 1.8 million, accounting for 45% of the entire market.
On the issuer side, Ondo (Ondo Global Markets) leads with $992 million, offering tokenized products for 430+ U.S. stocks and ETFs, across Ethereum, Solana, and BNB Chain. Kraken’s xStocks is second.
One thing needs to be made clear:
Tokenized stocks ≠ owning actual stocks. Most products provide price exposure, not voting rights, and dividend handling differs by provider. Ondo holds the underlying assets through a U.S.-registered broker-dealer; Binance bStocks represents securities interests held by BTech Holdings; Dinari (dShares) is currently one of the very few products that truly gives both voting rights and dividends to holders — in August, it just received SEC exemption status allowing it to serve qualified U.S. investors.
$3.9 billion versus the global stock market’s $100 trillion is not even a tiny fraction of a tiny fraction.
But the direction is already very clear — this sector is accelerating, and BNB Chain’s data this year shows that distribution channels are the key variable.
Which platform are you using to buy tokenized stocks? Or have you never touched them at all?
$BNB
#代币化股票总市值创39亿美元新高
The total market cap of tokenized stocks is $3.9 billion, a record high.
Back in January this year, that number was $719 million.
In nine months, it’s up more than 5x.
The logic of the whole sector isn’t complicated: in traditional U.S. stock markets, retail investors in Asia, South America, and Southeast Asia want to participate, but they either can’t open a U.S. brokerage account, are restricted by foreign exchange controls, or are in the wrong trading time zone — U.S. stocks open Monday through Friday, and in Tokyo that’s 11:30 p.m., when you’re asleep.
What tokenized stocks solve is exactly this time-zone and access problem: 24-hour trading, on-chain settlement, and no need for a U.S. brokerage account.
The landscape of the chains underwent a clear reshuffle this year:
In January, Ethereum accounted for 48%, Solana for 31%, and BNB Chain only 13%.
Now:
BNB Chain $1.2 billion (30%)
Ethereum $841 million (22%)
Solana $753 million (20%)
BNB Chain went from last place to first in less than four months.
The driver behind it is Binance bStocks — it reached $800 million in less than four months, and Binance users can buy directly on the platform, with almost zero friction. The number of addresses holding tokenized stocks on BNB Chain is 1.8 million, accounting for 45% of the entire market.
On the issuer side, Ondo (Ondo Global Markets) leads with $992 million, offering tokenized products for 430+ U.S. stocks and ETFs, across Ethereum, Solana, and BNB Chain. Kraken’s xStocks is second.
One thing needs to be made clear:
Tokenized stocks ≠ owning actual stocks. Most products provide price exposure, not voting rights, and dividend handling differs by provider. Ondo holds the underlying assets through a U.S.-registered broker-dealer; Binance bStocks represents securities interests held by BTech Holdings; Dinari (dShares) is currently one of the very few products that truly gives both voting rights and dividends to holders — in August, it just received SEC exemption status allowing it to serve qualified U.S. investors.
$3.9 billion versus the global stock market’s $100 trillion is not even a tiny fraction of a tiny fraction.
But the direction is already very clear — this sector is accelerating, and BNB Chain’s data this year shows that distribution channels are the key variable.
Which platform are you using to buy tokenized stocks? Or have you never touched them at all?
$BNB
#代币化股票总市值创39亿美元新高