According to the Q3 2026 DeFi report by ARK Invest, the share of tokenized equities in decentralized exchange (DEX) spot volume increased from approximately 1% to 9% within a single quarter. These blockchain-based tokens, which track the price of traditional shares, have seen their cumulative DEX trading volumes estimated between $13.7 billion and $20.9 billion.
The market capitalization of active tokenized equities reached approximately $4 billion in September 2026, marking a 314% increase year-to-date. Concurrently, the total value locked (TVL) in protocols supporting these assets grew from $21.6 million in January to $289 million by September.
Uniswap currently dominates the exchange landscape, capturing about 60% of trading activity over recent 30-day windows. At the network level, Solana, BNB Chain, and Robinhood Chain are competing for volume, with Solana contributing $5.8 billion in volume during Q2 2026.
ARK Invest attributes this growth to increased stablecoin address activity and the expansion of the broader DeFi ecosystem. The report highlights that the ability to trade around the clock and access pre-IPO opportunities are key drivers for investor interest in these tokenized assets.
