The market value of tokenized stocks has grown to $4 billion, with ETF-linked and Circle stocks (CRCL) accounting for the largest positions by the category of the underlying stocks, according to Token Terminal data published on October 17, 2026. Binance-linked products lead the pack among issuers, followed by Ondo Finance and xStocks. BNB Chain, Ethereum, and Solana dominate the market as the largest blockchain networks.
Tokenized stocks reach an all-time high of $4B in market cap, up 831.8% over the past year
ETFs account for $772.1M, followed by tokens linked to CRCL at $391.2M, SECZ at $293.5M & MSTR at $267.2M https://t.co/VQZhltyV3X
— Token Terminal 📊 (@tokenterminal) October 16, 2026
According to the latest data, the market for tokenized stocks is growing rapidly as more platforms enable the tokenization of equities and other investment products.
Tokenized stocks are digital tokens representing shares in a company or other stock market investments. They give investors ownership of a certain percentage of an underlying asset. Token Terminal’s data covered 2,061 stocks by reference stock and 5,471 tokenized assets.
ETF-linked tokens dominated the market with a value of $792.8 million, accounting for 19.9% of the total. Circle stock followed at $370.9 million or 9.3%. The next largest categories were SECZ with $255.2 million, MicroStrategy (MSTR) at $249.4 million and SPCX with $232 million. NVIDIA-linked stocks were worth $149.7 million, and Tesla-linked stocks with $128.2 million.
By issuers, Binance-linked products dominated with $1.2 billion, or 29.7% of the market. Ondo Finance followed with $971.8 million or 9.3%, followed by xStocks with $944 million. Other prominent issuers of tokenized stocks include Securitize, Robinhood and Reality, which were among the 24 issuers covered by Token Terminal.
$4B in tokenized stocks.
37.5% of that is on BNB Chain.
Over a third, for anyone counting.
https://t.co/CVPqpaxOf0
— BNB Chain (@BNBCHAIN) October 16, 2026
BNB Chain was the largest blockchain network for the tokenized stocks with $1.5 billion, representing 37.5% of the total. Ethereum came second with $826.9 million, followed by Solana with $715.8 million. X Layer and Avalanche each held around $254 million. The data covered 18 blockchain networks.
The market for tokenized stocks has grown significantly within the last year. According to a report by The Crypto Times in early 2026, the value of tokenized stocks was $3.8 billion in the week of October 5, 2026. DWF Labs said this was a 483% increase from $654 million. By the first week of January 2026, the value of weekly swaps on decentralized exchanges had increased by 55 times.
Source: dwf-labs.com
Ondo Finance is a major player in the market for tokenized stocks. However, it has seen its position grow at the expense of other platforms. At the same time, the market for tokenized products is beginning to see demand beyond just trading products.
On September 25, 2026, tokenized US stocks on Coinbase became available as collateral on the Aave V4 lending marketplace on the Base blockchain. This allowed borrowers to take a loan in the form of a stablecoin – USDC backed by the US dollar. Among the seven tokenized stocks available as collateral on Aave, Coinbase US stock was the main one.
From this perspective, tokenized stocks are gradually becoming a significant market. Nevertheless, there are significant risks associated with this market, as the market share is concentrated among several issuers and networks. In addition, the development of this market will likely depend on demand from investors, as well as the introduction of new products and services.
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