The tokenized stock market has accelerated sharply. Over the past year, the volume of digital versions of traditional securities on the blockchain has grown from $37 million to $1.5 billion, more than 40 times. This jump shows that investors are increasingly seeking access to U.S. stocks through crypto infrastructure, bypassing classic brokerage accounts and complex procedures.
Tokenized stocks allow you to buy shares of securities, trade them almost around the clock, and maintain access to the U.S. market directly from a crypto wallet. For users who already store capital in BTC, ETH, BNB, or stablecoins, this becomes a simple way to diversify without leaving the crypto ecosystem.
Ethereum, Solana and BNB Chain Compete for Blockchain Stock Market
Currently, the main competition is between three networks. Ethereum holds first place with a volume of about $614.3 million and controls more than 40% of the tokenized stock market. Its advantage is due to reputation, liquidity, and trust from institutional participants.
Solana is in second place with $442.6 million. Its bet is clear: high speed, low fees, and a convenient experience for active trading. BNB Chain is close behind with $432.2 million, relying on a large retail audience and a close connection to exchange infrastructure.
The gap between Solana and BNB Chain remains minimal. This means that leadership in the segment can change quickly, especially if one of the major tokenized stock providers chooses a specific network for a large-scale launch.
Ondo and xStocks Control Nearly the Entire Segment
Despite rapid growth, the market remains highly concentrated. The two largest players, Ondo Finance and xStocks, together control nearly 89% of the segment. This makes the market fast-growing, but not yet very competitive in structure.
Ondo Finance holds about $963 million in assets, which corresponds to more than 63% of the entire market. In the tokenized stock segment, the company’s share exceeds 70%, and total trading volume has already surpassed $18 billion. xStocks is in second place with about $402 million, or around 26% of the market.
Such concentration can be an advantage at an early stage. Large providers quickly provide liquidity, convenient access, and recognizable products. But as the segment grows, competition will inevitably intensify, especially from exchanges, banks, and fintech companies.
Ondo Quickly Became the Main Player
Ondo Global Markets launched in September 2025 and became the largest tokenized stock platform in just two days. After eight months, the volume of locked assets exceeded $1 billion. For comparison, it took stablecoins about three years to reach this scale, and tokenized treasury bonds about two years.
Since January 2026, the volume of assets on the platform has doubled. Now, users have access to more than 260 tokenized U.S. stocks and ETFs, and the platform operates simultaneously on Solana, Ethereum, and BNB Chain. Access is available through popular wallets and platforms, including Binance, MetaMask, and Phantom.
Each token reflects real securities held by a U.S.-registered broker-dealer. The instruments also account for total returns, including dividends. Trading is available 24 hours a day, five days a week, making the product closer to the crypto market than to classic stocks.
Crypto Investors Get a Simple Path to U.S. Stocks
The main reason for demand is simple. A lot of capital has accumulated in the crypto ecosystem, but for a long time, it was difficult for users to transfer it into traditional assets without banks, brokers, and international restrictions. Tokenized stocks solve this problem.
Ondo Finance President Jan De Bode explained the demand by saying that many investors made money on bitcoin, Ethereum, and BNB, but their capital remained inside crypto exchanges. Now they can more easily allocate funds to stocks and ETFs without leaving familiar infrastructure.
For the global market, this is an important shift. U.S. stocks are becoming more accessible to users from countries where opening international brokerage accounts is difficult, expensive, or time-consuming. In this case, blockchain acts not as a speculative layer, but as a new channel for access to traditional assets.
European Approval Strengthened Ondo’s Position
Ondo has already received permission to offer tokenized stocks and ETFs in 30 European countries within the EU and the European Economic Area. This expands the potential audience and makes the company one of the first major players trying to bring such products into a regulated field.
In addition, Ondo has confidentially filed documents with the SEC. If the regulator approves the application, the company could become the first issuer of transferable tokenized stocks to report to the U.S. regulator. This would be an important precedent for the entire sector.
The regulatory aspect here is no less important than asset growth. Without clear rules, tokenized stocks will remain a niche product for crypto users. With regulatory approval, they could become a bridge between the brokerage market and blockchain infrastructure.
Tokenized ETFs Also Growing Rapidly
Growth has affected not only individual stocks. According to Token Terminal, the volume of tokenized ETFs on the blockchain has reached $430 million. The leader is IVVon from Ondo, a digital version of the iShares Core S&P 500 ETF, which has grown by about 150% on Ethereum over the past month.
This shows that demand is forming not only for individual securities, but also for broad market instruments. For many investors, a tokenized ETF may be more convenient than choosing individual stocks. Especially when it comes to access to the S&P 500 or other major indexes.
As a result, tokenization is beginning to replicate the logic of the traditional stock market. First, individual assets appear, then ETFs, then more complex products. The difference is that all this is gradually moving into crypto wallets and operates with a new speed of settlement.
Prediction Markets Expect RWA Growth to $50 Billion
The growth of tokenized stocks has increased interest in the broader real-world assets market on the blockchain. On Polymarket, traders estimate the probability that the RWA segment will reach $50 billion by December 31, 2026, at about 75%.
This is no longer just a bet on a single company or network. Prediction markets actually reflect the expectation that tokenization will become one of the main directions of the next stage of the crypto market. This includes stocks, ETFs, bonds, money market funds, and other traditional instruments.
A separate bet on the launch of Binance tokenized stocks in 2026 shows a probability of about 99%. If the largest exchanges really start to massively develop such products, the market could receive a new influx of users and liquidity.
What’s Next?
In one year, tokenized stocks have gone from a small experiment to a $1.5 billion market. For now, the segment remains concentrated around Ondo and xStocks, but the growth rate is already attracting the attention of networks, exchanges, and regulators.
The main intrigue now is whether tokenization can go beyond the crypto audience. If investors begin to massively use blockchain to buy stocks, ETFs, and bonds, RWA could indeed become one of the largest sectors in the industry.
For now, the market looks like an early but rapidly growing infrastructure. Ethereum, Solana, and BNB Chain are already competing for the role of the main layer for stocks on the blockchain, and prediction markets are laying the groundwork for further growth of the entire segment to tens of billions of dollars.
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