Tokenized Stocks Hit $2.3B as Crypto Exchanges Push Onchain Equities
The market for blockchain-based equities has reached a record $2.3 billion, signaling a strategic push by major exchanges to offer traditional stocks to global investors outside standard market hours.
The global market capitalization of tokenized stocks has hit a record $2.3 billion, driven by aggressive expansion from major cryptocurrency exchanges. This growth reflects a broader effort to migrate traditional financial assets onto blockchain networks.
Crypto exchange Kraken has emerged as a significant driver of this growth through its xStocks product, which now accounts for $507 million of the total market. Binance follows with $334 million in tokenized equities under its bStocks banner. However, the largest single issuer in the space is Ondo Finance, which holds $955 million in onchain equities, according to data from Token Terminal.
These digital representations of traditional shares are distributed across multiple blockchain networks rather than relying on a single ledger. The Ethereum network currently commands the largest share of the tokenized stock market at 34%. Solana accounts for 23% of the activity, indicating that infrastructure competition extends beyond basic cryptocurrencies into the realm of traditional finance replication.
For market professionals, the appeal of tokenized stocks lies in structural advantages like fractional ownership and continuous trading. Offering traditional equities around the clock breaks the conventional constraints of standard exchange operating hours. Additionally, crypto platforms are using these digital wrappers to open up U.S. stock and ETF markets to a global base of investors who might otherwise face regulatory or logistical barriers to accessing American exchanges.
The acceleration in market capitalization aligns with a recent wave of strategic product launches from major trading venues. On June 1, Binance rolled out zero-commission trading for more than 7,000 U.S. tokenized stocks. Kraken has simultaneously scaled its offerings, now providing exposure to 11,000 U.S.-listed stocks and ETFs through xStocks as it establishes itself among the first major crypto-native platforms to bridge traditional equities and digital assets.
This pivot into equities is the latest phase in a wider push to bring real-world assets onto decentralized ledgers. According to a report from Binance, the total tokenized real-world asset market surged 589% between early 2025 and June 2026. While that broader rally was initially driven by government bonds and money market funds, the record valuation in tokenized stocks demonstrates that blockchain infrastructure is now actively capturing volume from the global equity trade.
