Crypto: BNB Chain Surges in Tokenized Stocks and ETFs

BNB Chain has just reached a milestone in the crypto market for tokenized stocks. The network now hosts about 1.1 billion dollars worth of tokenized stocks and ETFs, nearly 30% of a market valued at around 3.7 billion. Ethereum follows with 828 million dollars, ahead of Solana at 738 million. In January, BNB Chain only represented 13% of the sector.

BNB Chain Surpasses One Billion in Tokenized Stocks

The ranking change happened quickly in the crypto universe. In January, Ethereum controlled about 48% of the tokenized stocks and ETFs market. Solana followed with 31%, while BNB Chain only accounted for 13%. Nine months later, BNB Chain moves ahead of the two networks with about 1.1 billion dollars.

The growth was already visible this summer. In August, Binance bStocks had surpassed Kraken’s xStocks with about 610.6 million dollars in value.

Since then, the ecosystem has continued to grow. BNB Chain notably hosts the titles of Binance bStocks and Ondo Global Markets. Binance Research estimates that bStocks alone represents about 800 million dollars after less than four months of existence. The product was launched at the end of June.

The number of users grows even faster. About 1.8 million addresses now hold tokenized stocks on BNB Chain. This represents 45% of the total market. BNB Chain’s share among holders thus far exceeds its share in value. The network attracts many small wallets.

The Crypto Market Has More Than Quintupled Since January

BNB Chain advances in a crypto market that itself is changing size. In January, tokenized stocks and ETFs represented about 719 million dollars. The sector now reaches nearly 3.7 billion. The value has thus more than quintupled in nine months.

September further accelerated the movement. The capitalization tracked by Token Terminal rose from 2.87 billion dollars in August to 3.35 billion in September, an increase of about 17%. Volumes are also growing. Early September, tokenized stocks had already approached 3 billion dollars in spot volume in a single week.

Binance Research provides another measure of this acceleration. On-chain transfers of tokenized stocks exceeded 100 billion dollars in the third quarter, compared to about 6 billion in the first quarter.

These assets are also starting to move beyond simple buy-and-hold strategies. The share of tokenized stocks used in DeFi remains limited, but it is growing. According to Binance Research, the ratio of value engaged in decentralized finance rose from about 1.8% to 6.3% in sixty days. The crypto market is thus beginning to use these securities more as true on-chain assets.

Ethereum and Solana Remain in the Race

BNB Chain takes first place, without really distancing its competitors. Ethereum holds about 828 million dollars of tokenized stocks and ETFs, or 22% of the market. Solana follows with 738 million dollars and about 20%. Together, the three networks thus concentrate more than 70% of the sector’s value.

Competition will also broaden. Coinbase is already deploying its own tokenized stocks on Base. Robinhood is developing its own infrastructure, while Ondo’s products are present on several blockchains.

US regulation could further accelerate the movement. In September, the SEC opened a five-year experimental framework for certain US tokenized stocks. Tokenized stocks remain tiny compared to traditional stock markets. Their growth on blockchain is nevertheless difficult to ignore. 719 million dollars in January. About 3.7 billion today. And BNB Chain has just taken over one billion on its own.