Tokenized Stocks: +180% Volume in One Month, Ondo, Kraken and Binance Compete for the Lead

Tokenized stocks accelerate their progress in the crypto market. In one month, holders more than doubled, while transfers jumped nearly 180%. This evolution also accompanies a rise in active addresses and distributed value. Behind this dynamic, several players compete for a central place. Ondo maintains the top position, ahead of Kraken’s xStocks and Binance’s bStocks. RWA.xyz data shows a clear expansion in activity in this segment.

Tokenized Stocks Scale Up

The number of holders of the tokenized stock market reached 1.31 million over the last month. The monthly transfer volume increased by 179%, reaching $23.13 billion. Monthly active addresses also rose by 34.62%, to nearly 572,000. This increase reflects broader activity around blockchain-represented securities.

The distributed value also follows a positive trajectory, at $2.38 billion. It rose by 5.9% over one month, according to the same data. Tokenized stocks thus gain presence among related products and real-world assets.

Ondo Maintains the Lead Ahead of Kraken and Binance

Ondo currently leads the ranking with about $872 million in distributed value. Kraken’s xStocks follows with $557.8 million, ahead of Binance’s bStocks at $521.8 million. Launched in June, bStocks is about $36 million behind its competitor. Tokenized stocks thus become a field where offerings evolve rapidly.

RWA.xyz also ranks Securitize among the main individual assets, with $145.2 million distributed. Strategy PP Variable xStock reaches $135.6 million, while Ondo’s Circle stocks display $99.7 million.

Pre-IPO Products Accelerate the Momentum

The rise of tokenized stocks comes after the arrival of several crypto platforms in private markets. Earlier this year, several players offered products linked to SpaceX before its June 12 IPO. Binance, Coinbase, Kraken, Bybit, Bitget, and Blockchain.com launched various offerings. These ranged from tokenized pre-IPO exposure to perpetual futures and substitute tokens.

However, not all pre-IPO operations met initial expectations. One Binance campaign notably raised $557 million before SpaceX’s IPO. Binance, Bybit, and Bitget Wallet later canceled their campaigns after allocation difficulties. xStocks did not secure enough underlying shares to satisfy demand, leading to subscriber reimbursements. Despite this episode, SpaceX’s tokenized stocks via bStocks have continued to progress since the listing.

The momentum might now depend on the evolution of volumes and user numbers. Recent data shows rapid growth in this market. This trend fits into a broader tokenization of real-world assets. Standard Chartered estimates this market could reach $4 trillion by the end of 2028. The coming months will therefore measure if this growth maintains its current pace across global markets.