The market for tokenized stocks and exchange-traded funds has approached $3.9 billion in value, extending a rapid expansion that has made blockchain-based equities one of the fastest-growing segments of real-world asset tokenization.
Token Terminal-based figures reported on October 6 placed the market at a record $3.8 billion, with BNB Chain, Ethereum and Solana collectively accounting for approximately 74% of the total.
The three networks have emerged as the principal infrastructure providers for tokenized equity products, although their respective market shares vary across data sources and reporting dates. BNB Chain led the market with approximately $1.2 billion in tokenized stocks and ETFs, followed by Ethereum at $841.4 million and Solana at $753.4 million.
The combined $2.79 billion represented about 73.5% of the reported $3.8 billion market. The expansion has been substantial throughout 2026. Tokenized equities were valued at approximately $719 million in January, implying growth of more than fivefold.
However, the figures represent the estimated value of outstanding tokenized products, not cumulative trading volume or new investor deposits.
BNB Chain Overtakes Ethereum and Solana
BNB Chain’s emergence as the largest network for tokenized equities represents a significant change from the beginning of the year.
In January, Ethereum accounted for approximately 48% of the market, followed by Solana at 31%, while BNB Chain held around 13%.
By early October, BNB Chain had become the first network to exceed $1 billion in tokenized stocks and ETFs. Its growth has been supported by products including Binance’s bStocks and Ondo Global Markets’ tokenized securities.
According to BNB Chain, its ecosystem supported more than 709 tokenized stocks and ETFs by late June, with cumulative trading volume exceeding $5 billion. Ethereum remains an important platform for institutional tokenization, while Solana has attracted issuers seeking low transaction costs and faster settlement.
The competition is increasingly shaped by product distribution, liquidity and regulatory arrangements rather than blockchain performance alone. Tokenized equities also differ considerably in their legal structures. Some products represent securities backed by underlying shares, while others provide contractual or derivative exposure to stock prices without identical shareholder rights.
Consequently, the total market valuation combines products that may not be directly interchangeable.
Institutional Launches Expand Tokenized Equity Access
The market’s growth coincides with increasing participation from regulated financial institutions and digital-asset infrastructure providers. On October 8, Securitize launched tokenized versions of 12 U.S. equities on Solana, including Apple, Nvidia, Microsoft and Tesla.
The products are backed by underlying shares and designed to preserve applicable economic and shareholder rights for eligible investors. Meanwhile, OKXICE, a joint venture involving OKX and Intercontinental Exchange, has filed with U.S. regulators to establish a tokenized securities trading platform.
Such developments could expand access to blockchain-based equities beyond existing cryptocurrency trading venues. Nevertheless, market-size estimates remain sensitive to valuation methodology. RWA.xyz reported approximately $3.25 billion in distributed tokenized-stock value at the beginning of October, while another analytics dashboard recorded $3.57 billion on October 11.
Differences can arise from asset coverage, the inclusion of ETFs, duplicated representations across networks and valuation dates.
The market also remains small compared with conventional global equity markets. Its significance lies primarily in the potential to improve settlement efficiency, extend trading availability and enable securities to interact with programmable financial infrastructure.
Regulatory compliance, custody arrangements, shareholder rights and secondary-market liquidity remain important constraints.
The central development is the rapid expansion of tokenized equities alongside increasing concentration on BNB Chain, Ethereum and Solana. Whether the sector sustains its growth will depend on institutional adoption and the ability of tokenized products to deliver practical advantages over traditional securities infrastructure.