The number of tokenized stocks and ETFs with a value exceeding $1 million has surged to 348 as of late 2026, compared to only three in January 2025. The total market capitalization for these assets reached approximately $4.67 billion by November 3, 2026, distributed across 3,867 assets and 6,899 products.
The market is supported by 12 issuers operating across 18 blockchain networks. Binance leads the sector with its bStocks product, holding approximately $1.6 billion, which accounts for 34% of the market share. Ondo Finance follows with $1.29 billion (28%), and Backed Finance holds $1.12 billion (24%).
BNB Chain serves as the primary infrastructure, capturing 41% of the network share. US equities dominate the underlying assets, representing 92% to 94% of the total tokenized value. Despite this rapid growth, tokenized stocks currently account for approximately 0.0038% of the traditional equity markets they mirror.
Market participants face challenges such as liquidity fragmentation across multiple chains and issuers, as well as high concentration among the top three providers. The sector's reliance on US equities also makes its performance sensitive to American regulatory developments.
