Tokenized stock trading volume reached $29.5 billion in the 30 days through Aug. 29, up 415% from the previous month and setting a record high, according to data from analytics platform RWA.xyz. Over the same stretch, on-chain active addresses topped 1.3 million, pointing to faster movement of traditional financial assets onto real-world asset, or RWA, rails.
Holders and trading activity both moved higher
RWA.xyz data showed strong expansion in the tokenized securities market over the past 30 days. Tokenized stock trading volume climbed to $29.5 billion, up more than 415% from a month earlier, while the number of tokenized stock holders reached 2.36 million, a 167% increase.
Total RWA value rose to $2.54 billion
The total value of on-chain real-world assets increased to $2.54 billion, up 1.45% on the month. Compared with $344 million a year earlier, that works out to annual growth of about 637%.
Ondo, Kraken and Binance controlled 81% of the market
Capital distribution in the tokenized stock market remained highly concentrated. The top three platforms together held 81% of market share. Ondo ranked first with $842.8 million, Kraken’s xStocks came second with $609.3 million, and Binance’s bStocks placed third with $599.9 million.
By individual asset value, Securitize Corp. tokenized stock was the largest at about $163 million. Strategy PP Variable xStock followed at $136 million, and Ondo’s Circle Internet Group ranked third at $109 million.
Competition is shifting toward DeFi use cases
As the sector matures, competition among newer platforms is moving away from simply listing more stock names and toward the practical use of on-chain assets, especially their integration into decentralized finance, or DeFi, applications.
Tokenized stocks can be used as collateral for lending, packaged into automated portfolios, and traded around the clock rather than within the limits of traditional stock exchange hours. With market share concentrated among a small number of platforms, newer entrants are focusing on improving liquidity and composability so investors can access a wider range of financial operations while assets remain in custody.
Mainstream platforms keep adding tokenized equity products
Several platforms have recently expanded their product lineups. Coinbase issued its B20 token on Base, its layer-2 network, on Aug. 24, covering companies including Nvidia and Alphabet. Bitwise also launched an automated portfolio covering the "Magnificent Seven," robotics companies, and artificial intelligence firms.
In July this year, Bybit made tokenized stocks including Nvidia and Tesla eligible collateral for margin loans. Arcus, a decentralized exchange backed by Robinhood, also launched more than 95 tokenized stocks and perpetual markets on Robinhood Chain.