Tokenized Stocks Reach $2.8 Billion as Robinhood and BNB Chain Drive Adoption
Tokenized stocks grew to about $2.8 billion across 3,374 assets by August 2026, after crossing $1 billion around March and nearly doubling by mid July. Ethereum, BNB Chain, and Solana account for most reported market value, while BNB Chain and Robinhood Chain lead by holder count in the latest snapshots.
Tokenized stocks grew to about $2.8 billion across 3,374 assets by August 2026, after crossing $1 billion around March and nearly doubling by mid July.
Ethereum, BNB Chain, and Solana account for most reported market value, while BNB Chain and Robinhood Chain lead by holder count in the latest snapshots.
Ondo Finance, Binance’s bStocks, and Backed Finance’s xStocks control most reported issuer value, but investors still need to distinguish direct ownership from derivatives, certificates, or issuer backed claims.
How has the tokenized-stock market grown to approximately $2.8 billion across 3,374 assets since the start of 2025—including its crossing ofA conceptual illustration of equities moving onto blockchain-based trading and settlement rails.
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Create a landscape editorial hero image for this Studio Global article: How has the tokenized-stock market grown to approximately $2.8 billion across 3,374 assets since the start of 2025—including its crossing of. Article summary: Tokenized equities have moved from a niche product to a rapidly growing—but still tiny—on-chain market. The key story is distribution: exchanges and brokers are pairing familiar equities with blockchain rails, stablecoin. Topic tags: general, general web, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts with fa
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Tokenized equities have gone from a niche blockchain experiment to one of the fastest-growing real-world-asset categories. The market crossed $1 billion around March 2026, reached approximately $2.3 billion by mid-July, and stood near $2.8 billion across 3,374 assets in an August snapshot.
The headline growth is significant, but the more important shift is structural: brokers, exchanges, issuers, and blockchain networks are competing to turn familiar stocks and exchange-traded funds into products that can move through wallets, stablecoin funding systems, and on-chain trading venues.
The market’s growth in 2026
The trajectory accelerated sharply during the year:
Tokenized stocks cleared $1 billion around March 2026.
Market capitalization reached about $2.3 billion by mid-July—nearly double the March level.
By August 20, one estimate placed the market at roughly $2.8 billion across 3,374 assets.
Holder addresses reached approximately 1.4 million, representing a 447.5% increase over six months. BNB Chain and Robinhood Chain each had close to 500,000 holders in that snapshot.
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What is the short answer to "Tokenized Stocks Reach $2.8 Billion as Robinhood and BNB Chain Drive Adoption"?
Tokenized stocks grew to about $2.8 billion across 3,374 assets by August 2026, after crossing $1 billion around March and nearly doubling by mid July.
What are the key points to validate first?
Tokenized stocks grew to about $2.8 billion across 3,374 assets by August 2026, after crossing $1 billion around March and nearly doubling by mid July. Ethereum, BNB Chain, and Solana account for most reported market value, while BNB Chain and Robinhood Chain lead by holder count in the latest snapshots.
What should I do next in practice?
Ondo Finance, Binance’s bStocks, and Backed Finance’s xStocks control most reported issuer value, but investors still need to distinguish direct ownership from derivatives, certificates, or issuer backed claims.
These figures should not be read as a single perfectly consistent time series. Market trackers can differ on whether they include stocks only or stocks plus ETFs, how they treat issuer products, and which assets or wallet addresses are counted. RWA.xyz, for example, listed 3,959 tokenized stocks in a snapshot dated August 20, illustrating how asset counts vary by methodology.
The growth is therefore best understood as directional rather than as a precise, universally agreed market total: tokenized equities are expanding quickly, but the measurement boundaries are still developing.
Ethereum, BNB Chain, and Solana dominate market value
Chain rankings change depending on the date and metric. A Token Terminal snapshot cited in July placed Ethereum at 34% of tokenized-stock market value, BNB Chain at 30%, and Solana at 23%—together representing about 87% of the market.
A later value snapshot produced a different ordering, with BNB Chain at approximately $946.9 million, Ethereum at $787.4 million, and Solana at $618.7 million in tokenized equities and ETFs.
Another August estimate attributed 49% to Ethereum, 23% to Solana, and 22% to BNB Chain. The differences do not necessarily indicate an error. They can result from:
different observation dates;
stocks-only versus stocks-and-ETF coverage;
differences between issued assets and assets held in DeFi wallets; and
rapid product launches, migrations, and incentive programs.
The key conclusion is more stable than any individual percentage: Ethereum, BNB Chain, and Solana account for most measured tokenized-equity value, while their precise rankings can change quickly.
Holder count is not the same as market value
The sector’s adoption story looks different when measured by wallets rather than capitalization. BNB Chain and Robinhood Chain each approached 500,000 holders in the latest cited data, while Solana had roughly 332,000.
Robinhood’s example shows why the distinction matters. Soon after Robinhood Chain launched, the network had attracted about 328,000 holders, but its tokenized-stock value remained below that of larger issuers. A large holder base can reflect retail distribution and low-denomination access; it does not automatically mean that a platform holds the most capital or has the deepest liquidity.
This is one of the clearest signals from the market’s expansion: distribution can scale faster than assets under custody. A brokerage or consumer app can bring many new wallet addresses on-chain even while institutional issuers retain the majority of market value.
Ondo, bStocks, and xStocks lead the issuer race
Three platforms accounted for approximately 77% of reported tokenized-equity value in a mid-August snapshot:
Ondo Finance: about $957 million;
Binance bStocks: about $622 million; and
Backed Finance’s xStocks: about $600 million.
Binance’s bStocks illustrates how quickly an exchange-led product can scale. Binance reported that bStocks exceeded $500 million in capitalization and reached $8.7 billion in cumulative trading volume. Its July on-chain volume was reported at $7.4 billion.
Ondo has pursued a different but complementary role: acting as an issuer and distribution layer for tokenized stocks and ETFs. Binance made Ondo tokenized securities available through Binance Alpha and classified them as securities under the relevant product framework.
Backed’s xStocks represents a cross-platform model. The product launched on Solana and Ethereum through partnerships including Kraken and is aimed at eligible non-U.S. users. The result is a market in which the issuer, exchange, blockchain, custodian, and investor-access rules may all be different parts of the same product.
How Robinhood, Kraken, and Coinbase are approaching tokenized stocks
Robinhood: retail distribution and its own network
Robinhood first offered tokenized U.S. equities and ETFs to eligible EU and EEA users. It later launched Robinhood Chain, an Ethereum-compatible Layer 2 built using Arbitrum technology, alongside 24/7 trading for eligible tokenized stocks.
The platform’s growth demonstrates the power of app-based distribution. But its products also highlight the ownership question: reporting describes Robinhood Stock Tokens as instruments that track the underlying equity without giving holders direct ownership or voting rights.
Kraken: access through xStocks
Kraken offers xStocks through its partnership with Backed, giving eligible non-U.S. customers tokenized exposure to U.S. equities. This approach relies on a specialist issuer while using an established exchange as the customer-facing distribution channel.
Coinbase and Base: a potential directly backed alternative
Coinbase and Base have been reported to be developing one-for-one tokenized equities for non-U.S. customers. The proposed model is intended to compete with offerings from Robinhood and Kraken, but custody, issuance, eligibility, and regulatory details remain unresolved in the available reporting.
Across these models, the commercial proposition is similar: combine familiar brokerage-style access with blockchain features such as wallet portability, stablecoin funding, continuous trading, and potential DeFi integration.
From crypto products to capital-markets infrastructure
The sector is also attracting more traditional financial infrastructure. A partnership involving Ondo and Broadridge announced the third-party tokenization of BlackRock’s iShares Core S&P 500 ETF and Micron shares on a public blockchain while retaining existing U.S. regulatory and market-infrastructure arrangements. The announcement said token holders would receive regulatory disclosures and participate in proxy voting.
That model differs materially from a token that merely tracks a stock’s price. Depending on the issuer and jurisdiction, a token may be:
a directly backed security;
a certificate or note;
a derivative;
an issuer-backed claim; or
another structured product with limited or no shareholder rights.
Investors therefore need to verify the legal relationship between the token and the underlying asset. The important questions are whether the holder receives legal title, dividends, voting rights, redemption rights, and protection if the issuer or custodian fails.
Stablecoins are another part of the infrastructure. Binance’s bStocks launch materials describe USDC and USDT as funding rails and BNB Chain as the settlement network. In a broader tokenized-market design, stablecoins can support funding, collateral movement, settlement, and cross-border payments, while tokenized securities provide the investment exposure.
The supplied evidence does not establish Meritz Securities’ current tokenized-equity activity relative to the leading issuers, so it would be premature to assign the firm a measurable role in this market from the available data.
What tokenization could improve
If the legal and market structure is sound, tokenized equities could offer several practical benefits:
Smaller-denomination access: eligible users may be able to obtain exposure with lower minimums than traditional brokerage or custody arrangements require.
Extended trading availability: blockchain venues can support trading outside conventional exchange hours, subject to liquidity and product restrictions.
Programmable settlement: transfers, compliance checks, collateral, and certain corporate actions can be coordinated through software.
Broader distribution: issuers can reach exchanges, wallets, brokerages, and decentralized applications through shared blockchain rails.
Improved reconciliation: public transaction records can make transfers easier to audit, although wallet activity must be connected to reliable identity and venue data for effective oversight.
These are potential advantages, not guarantees. Tokenization changes the technical distribution layer; it does not automatically eliminate custody, compliance, liquidity, or counterparty risk.
The main regulatory and market-structure risks
Investor protection
The most basic question is what the buyer actually owns. Product disclosures should identify the issuer, custodian, backing arrangement, redemption process, dividend treatment, voting rights, and protections available if an intermediary becomes insolvent.
Market surveillance
A market that trades 24/7 across multiple chains can fragment liquidity and make it harder to detect manipulation, wash trading, insider dealing, and price gaps between a token and the underlying stock.
Cross-border compliance
A token linked to a U.S. stock may be issued offshore, distributed through a global exchange, funded with a stablecoin, and held in a self-custody wallet. That combination can create overlapping obligations involving securities law, licensing, AML and KYC, sanctions, taxation, custody, and reporting.
Operational and legal finality
Smart-contract exploits, bridge failures, lost keys, oracle errors, issuer insolvency, and disagreements over legal ownership can affect the token even when the referenced stock continues trading normally.
Liquidity and pricing
A token can trade at a premium or discount to the underlying share if market makers, redemption mechanisms, or trading access are limited. High reported volume is not the same as deep, two-way liquidity that can withstand stress.
A fast-growing experiment, not a replacement for equities
At roughly $2.8 billion, tokenized stocks remain a very small market relative to global public equities. The scale matters because it puts the current surge in perspective: this is still primarily an experiment in financial distribution, settlement, and ownership infrastructure—not a replacement for conventional stock markets.
The next phase will be judged less by the number of tokens issued than by whether the sector can deliver legally credible ownership, reliable custody, deep liquidity, transparent disclosures, and consistent cross-border supervision. The market’s rapid growth shows that demand for on-chain access is real; its unresolved structure shows why growth alone is not yet proof of a mature financial market.
