Tokenized stock holders more than doubled over the past month to 1.31 million, while monthly transfer volume surged 179% to $23.13 billion, according to RWA.xyz data. Ondo leads the market by distributed value, with Binance's bStocks closing in on Kraken's xStocks just months after its June launch.
The number of holders of tokenized equities has more than doubled over the past month to 1.31 million, according to RWA.xyz data. The surge points to fast-growing retail and institutional appetite for stock exposure issued on blockchain rails.
Monthly transfer volume climbed nearly 180% over the same period to $23.13 billion. Monthly active addresses rose 34.62% to close to 572,000. The total distributed value of tokenized stocks also increased 5.9% to $2.38 billion.
Ondo leads, but Binance's bStocks is closing the gap
Ondo tops the market with about $872 million in distributed value. Kraken's xStocks follows at $557.8 million. Binance's bStocks, which launched in June, stands at $521.8 million. It now sits within roughly $36 million of xStocks in distributed value.
Among individual tokenized assets, RWA.xyz data shows Securitize leading at $145.2 million. The Strategy PP Variable xStock follows at $135.6 million. Ondo's tokenized Circle shares stand at $99.7 million.
Tokenized stocks push into private markets
The growth follows a wave of crypto platforms pushing into private-market and pre-IPO products earlier this year, particularly around SpaceX ahead of its June 12 public-market debut. In the months before the listing, Binance, Coinbase, Kraken, Bybit, Bitget and Blockchain.com rolled out products tied to SpaceX, ranging from tokenized pre-IPO exposure to perpetual futures and proxy tokens.
Despite substantial demand, including $557 million drawn by a Binance campaign ahead of the listing, the push did not go entirely to plan. Binance, Bybit and Bitget Wallet canceled their tokenized SpaceX IPO campaigns after xStocks failed to secure enough underlying shares to meet demand, triggering refunds for subscribers.
Despite the failed pre-IPO allocations, tokenized SpaceX exposure through Binance's bStocks has grown to $67.9 million in distributed value since the company's June 12 listing, ranking seventh among individual tokenized assets tracked by RWA.xyz.
The growth in tokenized equities comes amid a broader expansion in real-world asset tokenization, which Standard Chartered forecasts could become a $4 trillion market by the end of 2028.
Source: Cointelegraph
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