Onchain activity in tokenized equities exploded over the past month, with monthly transfer volume climbing more than 415% to $29.5 billion, according to data from RWA.xyz.
Activity Is Growing Much Faster Than the Asset Base
Monthly active addresses rose more than 209% to approximately 1.3 million over the same 30-day period, while the total number of tokenized stock holders jumped 167% to reach 2.36 million. The total value of tokenized stocks distributed onchain edged up 1.45% over the past 30 days to $2.54 billion, a figure that represents roughly 637% growth compared to $344 million recorded a year ago.
Those figures pull in different directions. Trading activity rose several hundred per cent while the pool of assets being traded grew by less than 2%, or roughly $37 million of new value in a month. At $29.5 billion of monthly transfer volume against a $2.54 billion base, the same tokens changed hands something in the order of eleven times over.
Largest Individual Tokens and Leading Platforms
Among individual tokenized stocks tracked by RWA.xyz, Securitize Corp. ranked first at approximately $163 million in distributed value, followed by Strategy PP Variable xStock at $136 million and an Ondo-tokenized version of Circle Internet Group at $109 million.
By platform, Ondo led the market with $842.8 million in distributed value. Kraken’s xStocks came second at $609.3 million, and Binance’s bStocks placed third at $599.9 million. Combined, the three platforms accounted for roughly 81% of the total tokenized stock market.
Crypto Platforms Expand Tokenized Equity Access
The surge in activity coincides with a wave of product launches across major crypto platforms aimed at giving investors new ways to hold and use tokenized equities onchain.
On August 24, Coinbase’s tokenized US stocks went live on Base, enabling eligible non-US users to trade the assets around the clock and deploy them within decentralised finance applications. The B20 tokens cover companies including Nvidia, Apple, Meta and Alphabet, and can be held in self-custody wallets.
A day later, Bitwise launched automated portfolios built from Coinbase’s tokenized stocks, allowing eligible non-US investors to follow preset strategies while retaining full custody of the underlying assets. The initial portfolio offerings target the ‘Magnificent Seven,’ robotics, and artificial intelligence sectors.
Other platforms have expanded how the tokens can be used rather than how many exist. In July, Bybit added tokenized shares of Nvidia, Apple, Tesla and other US companies as collateral for margin loans, while Robinhood-backed DEX Arcus launched more than 95 stock tokens alongside perpetual markets on Robinhood Chain.
