BNB Chain captures 50% of tokenized equities as bStocks surges

BNB Chain's tokenized-equity supply reached $1.3 billion, nearly 50 percent of the $2.9 billion market, after bStocks issuance passed Ethereum's $800 million.

Blockworks data shows BNB Chain's share of tokenized-equity supply climbed to nearly 50 percent, while RWA.xyz figures put the broader tokenized stock market at $2.54 billion in distributed value.

bStocks, Binance's tokenized-equity product, added more than $500 million in assets under management since June and now supports 67 active assets, with cumulative trading exceeding $19 billion. Monthly active addresses across the tokenized stock market rose 209 percent to 1.3 million, while holders advanced 167 percent to 2.36 million, RWA.xyz data shows.

The concentration cuts both ways. BNB Chain's broader real-world-asset footprint stands at $5.7 billion, or 15 percent of the $38.4 billion market, versus Ethereum's $17.27 billion, or 45 percent. If bStocks issuance slows, BNB Chain's equity lead narrows without a second asset class to absorb demand.

bStocks carries the bulk of BNB Chain's equity growth

Within the broader lead, bStocks accounts for most of the increase in tradable tokens rather than gains spread evenly across assets. The product's $19 billion in cumulative trading shows those assets circulate actively rather than sit issued on-chain, and by a narrower measure bStocks typically represents more than half of available tokenized-equity supply.

The product family also offers two features traditional shares lack: 24/7 settlement and composability, which lets holders deploy tokenized equities into DeFi applications. Coinbase added tokenized U.S. stocks to Base on Aug. 24 for eligible non-U.S. users, covering Apple, Nvidia, Meta and Alphabet, while Bitwise followed with automated token portfolios built from those assets. Bybit began accepting tokenized shares as margin collateral in July, and Robinhood-backed Arcus listed more than 95 stock tokens.

Ethereum keeps the wider RWA lead

That concentration matters when BNB Chain is measured across the full real-world-asset market. Ethereum receives capital from multiple asset classes, which spreads liquidity and reduces reliance on a single segment. Solana holds $4.06 billion in RWA, trailing BNB Chain, while Avalanche maintains about $170 million in tokenized equities.

Expanding into Treasuries and funds would spread demand for BNB Chain and improve capital retention. Without that expansion, a slowdown in equity growth could hinder BNB Chain's ability to close Ethereum's overall lead.

This article is for informational purposes only and does not constitute investment advice.