BNB Chain now holds close to half of all tokenized-equity supply, overtaking Ethereum after its bStocks product accelerated growth through the summer. The broader real-world-asset picture still favors Ethereum, which controls a much larger share of total RWA value.
BNB Chain's tokenized-equity supply passed $1.3 billion by the end of August, compared with roughly $800 million on Ethereum, according to BlockWorks data. Before June, BNB Chain sat below $500 million while Ethereum held the largest supply, so bStocks reversed the hierarchy in a matter of months.
Solana's tokenized-equity supply also grew, reaching around $550 million. Avalanche stayed near $170 million and smaller networks attracted only minimal amounts. Together, these figures give BNB Chain a nearly 50% share of the roughly $2.9 billion tokenized-equity market.
bStocks drives most of the growth
bStocks accounts for most of BNB Chain's increase rather than growth spreading evenly across the network. The product has added more than $500 million in assets under management since June and now supports more than 67 active assets, with trading volume already exceeding $19 billion. That volume shows the assets are circulating actively rather than sitting unused on-chain, and bStocks alone typically accounts for more than half of BNB Chain's tokenized-equity assets under a narrower measure.
If bStocks issuance and trading keep growing, the product will likely reinforce BNB Chain's position as a decentralized exchange platform. A slowdown, however, would likely expose how much of BNB Chain's lead depends on a single product family.
Ethereum still leads the broader RWA market
BNB Chain's dominance narrows once the view widens to real-world assets overall. The network represents $5.7 billion of the $38.4 billion total RWA market, close to 15%, while Ethereum controls $17.27 billion, about 45%. Solana follows BNB Chain with $4.06 billion.
Ethereum draws capital from multiple asset classes, which spreads its liquidity beyond a single segment. BNB Chain's tokenized-equity lead has therefore not translated into a similar lead across the wider RWA sector. Expanding into treasuries and funds would spread demand and help the network close that gap; without it, slower equity growth could limit how far BNB Chain can narrow Ethereum's overall lead.
Source: AMBCrypto
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