Key facts
- Tokenized stock holders increased to 1.31 million in the past month.
- Monthly transfer volume for tokenized stocks surged 179% to $23.13 billion.
- Total distributed value of tokenized stocks rose 5.9% to $2.38 billion.
- Ondo, Kraken's xStocks, and Binance's bStocks are leading platforms in distributed value.
- Crypto platforms have been expanding into private-market and pre-IPO tokenized products.
The number of holders for tokenized stocks has more than doubled in the past month, reaching 1.31 million. This surge is accompanied by a significant increase in activity, with monthly transfer volume jumping 179% to $23.13 billion and monthly active addresses growing by 34.62% to nearly 572,000. The total distributed value of these tokenized assets also saw a 5.9% rise, reaching $2.38 billion.
Ondo currently leads the market in distributed value with approximately $872 million. Kraken's xStocks platform follows with $557.8 million, and Binance's bStocks platform is close behind at $521.8 million. Binance's bStocks, which launched in June, has rapidly approached xStocks in distributed value.
Among individual tokenized assets, Securitize leads with $145.2 million in distributed value, followed by Strategy PP Variable xStock at $135.6 million and Ondo’s tokenized Circle shares at $99.7 million.
This growth in tokenized equities is occurring as crypto platforms increasingly focus on private-market and pre-IPO products. Earlier this year, several platforms offered products tied to SpaceX ahead of its public debut, including tokenized pre-IPO exposure and proxy tokens. Despite strong initial demand, some of these SpaceX-related campaigns were canceled due to difficulties in securing sufficient underlying shares, leading to refunds for subscribers. However, tokenized exposure to SpaceX through Binance's bStocks has since grown to $67.9 million.
The expansion of tokenized equities is part of a larger trend in real-world asset tokenization, which Standard Chartered predicts could reach a market value of $4 trillion by the end of 2028.