Key Takeaways:
- Tokenized stock transfers hit $8.41 billion, up 105% in 30 days
- Distributed value rose 43% to $2.16 billion with 409,000 holders
- DTCC plans October launch of tokenized securities service with 50+ firms
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Tokenized stock transfers surge 105% to $8.4B as market hits $2.16B
Tokenized equities are outpacing every other segment of the real-world asset market as Wall Street and crypto-native platforms race to bring public stocks onchain.
Tokenized stock transfers more than doubled to $8.41 billion over the past month, while distributed value climbed 43% to $2.16 billion, according to RWA.xyz data.
"Tokenized equities won't reach mainstream adoption until broker-dealers can offer them as naturally as they offer traditional securities," Gabriel Otte, chief executive officer of tokenization platform Dinari, said.
Ondo Finance held the largest share of tokenized equity distributed value at roughly $846 million, followed by xStocks at $708 million, Securitize at $306 million and Figure at $239 million. Figure's distributed value surged 935% over the past 30 days, while Securitize's rose 332% and xStocks' increased about 62%. The number of holders grew 17% to more than 409,000.
The growth positions tokenized equities as the next frontier in the $33.5 billion tokenized RWA market, with the Depository Trust & Clearing Corp. planning a commercial launch of its tokenized securities service in October after receiving regulatory approval for a three-year pilot involving more than 50 financial firms including BlackRock, Goldman Sachs and JPMorgan.
Wall Street and crypto platforms compete for onchain equity infrastructure
The tokenized stock market has grown from roughly $378 million to $2.16 billion over the past year, a gain of about 471%, according to RWA.xyz. The surge has coincided with a wave of new tokenized equity offerings across crypto exchanges. During the SpaceX IPO, Kraken, Bybit and Bitget Wallet used xStocks infrastructure to offer tokenized pre-IPO access, with customer demand exceeding the available share allocation.
The momentum has spread to public markets. Earlier this month, Securitize became the first newly public company to issue tokenized versions of its shares on the Solana and Avalanche blockchains as it debuted on the New York Stock Exchange. The New York Stock Exchange and parent company Intercontinental Exchange have also unveiled plans for a platform to trade tokenized stocks and ETFs, while Nasdaq partnered with Kraken and infrastructure firm Backed to develop technology linking traditional equities with blockchain networks.
Tokenized Treasuries flat as equities take the lead
Tokenized equities outperformed other segments of the RWA market. Distributed value for tokenized US Treasurys, the sector's largest asset class at nearly $15 billion, was essentially flat over the past month, while the broader tokenized RWA market grew about 4% to $33.5 billion. Tokenized private credit reached $6.2 billion, and tokenized commodities stood at $4.7 billion, with gold making up a substantial majority.
Ondo Finance now holds roughly 60% of the tokenized equity market through its Global Markets platform. In March, it entered a partnership with Franklin Templeton to tokenize five ETFs, and in April it formed another partnership with Broadridge Financial Solutions to let holders of tokenized stocks and ETFs submit voting preferences for underlying shares.
The SEC in March approved a Nasdaq proposal to allow certain stocks to be traded and settled via tokens, with analysts expecting broader approval of stock token trading under SEC Chair Paul Atkins, who has signaled support for an "innovation exemption" for RWAs.
This article is for informational purposes only and does not constitute investment advice.
