Tokenized Stocks Hit $1B Market Cap Milestone

 

Tokenized stocks have crossed the $1 billion market cap marking a major turning point for RWAs on-chain. Public equities drove the surge, with platforms like Ondo Global Markets and xStocks leading the charge, while tokenized private equities on Solana continue to gain early traction and expand rapidly.

 

The rise of tokenized stocks brings several benefits to investors as they enable 24/7 global trading without the traditional T+2 settlement delays, allowing markets to operate continuously rather than shutting down after regular hours. Fractional ownership lowers the barrier for smaller investors to gain exposure to stocks and private investments. Assets can be used directly as collateral in DeFi protocols, creating new opportunities for yield generation and liquidity with instant settlement that reduces counterparty risk and improves capital efficiency. 

 

Ondo Finance and xStocks together account for over 90% of the tokenized stock market cap. Ondo leads at $741.1M (heavily on Ethereum at $440.1M and BNB Chain at $283.2M), followed by xStocks at $315.2M (dominant on Solana with $258.4M and reach through CEXs like Kraken and Bybit). The rest includes Superstate, Robinhood on Arbitrum, Dinari, and PreStocks’ $17.8M in tokenized private equities. Launched in June 2025, xStocks has already facilitated over $3.5 billion in on-chain transaction volume and $25 billion in total trading volume, tokenizing major assets like SPYx, QQQx, NVDAx, and TSLAx. 

 

Another interesting segment is tokenized pre-IPO stocks that bring exposure to private companies like Anthropic directly onto Solana via platforms such as PreStocks. These tokens are created through Special Purpose Vehicles (SPVs) that hold shares or exposure acquired on secondary markets. PreStocks then issues 1:1 backed SPL tokens on Solana that track the company's implied valuation which lets holders get price exposure with 24/7 trading on DEXes like Jupiter. The tokenized pre-IPO sector has grown roughly 200% year-to-date, with Anthropic leading the surge. 

However, Ethereum is still the clear leader when it comes to bringing stocks on-chain, as it’s become the primary home for major financial moves as the value of funds moving onto Ethereum has grown 20x since the start of 2024, thanks to massive names like BlackRock and Fidelity launching their own products there. This dominance extends across other major real-world asset categories as well, with the network maintaining a strong position in tokenized commodities, funds, and stablecoins.