The market capitalization of tokenized pre-IPO stocks grew 16-fold in 2026. The sector expanded another 29.6% in Q3, but growth was uneven. OpenAI's tokenized instruments gained 106.8% and contributed nearly 89% of the sector's net quarterly increase. OpenAI and SpaceX together accounted for 84.4% of market capitalization, up from 74.9% in Q2.
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Tokenized pre-IPO stock market capitalization grows 16-fold in 2026
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