Trading in tokenized stocks and ETFs surged 288% in July to a record $11.3 billion, according to CoinDesk Data, with Binance’s bStocks ecosystem accounting for most of the activity. Binance alone posted $9.41 billion in volume, or 83.3% of the total. The biggest driver was QQQB, a bStocks token tied to the Invesco QQQ ETF, which generated $9.27 billion in trading volume and made up about 82% of all tokenized stock trading for the month. The report said QQQB’s sharp rise was mainly supported by Binance’s zero maker fee policy in August and a VIP volume multiplier program launched on July 23. Excluding QQQB, July volume came to about $2.03 billion, roughly 30% below the market’s expected June total of $2.91 billion. Elsewhere, xStocks volume fell from $1.55 billion to $335 million, while Ondo recorded $792 million and Backpack posted $479 million.
Trading volume in tokenized stocks and ETFs jumped 288% in July to a record $11.3 billion, according to CoinDesk Data.
Binance’s bStocks accounted for $9.41 billion of that total, equal to 83.3% of overall trading volume. Within the segment, QQQB, a bStocks token that tracks the Invesco QQQ ETF, generated $9.27 billion in volume, or about 82% of all tokenized stock trading.
QQQB dominated July activity
The data cited by PANews said QQQB’s strong growth was mainly driven by Binance’s zero maker fee policy in August and its VIP volume multiplier program launched on July 23.
Excluding QQQB, July trading volume was about $2.03 billion, around 30% below the market’s expected June total of $2.91 billion.
Other platforms saw lower volumes
xStocks volume fell from $1.55 billion to $335 million. Ondo recorded $792 million in trading volume, while Backpack posted $479 million.
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