Tokenized Stock Trading Surges to $9.22 Billion Monthly Volume as Robinhood Launches Blockchain Platform

Tokenized stock trading experiences significant growth in mid-2026, with monthly on-chain transfer volume reaching $9.22 billion in June. While platforms like Solana dominate trading volume and Robinhood launches its own blockchain to capture retail interest, the market remains highly concentrated. Ondo, xStocks, and Securitize control 85.1% of distributed value. Despite rapid expansion, the sector faces legal fragmentation, as token holders typically hold claims on underlying shares rather than direct shareholder rights.

Tokenized stock market growth

• ▪On-chain transfer volume for tokenized equities reached $9.22 billion in June 2026.
• ▪Securitize tokenized $295 million of its own stock on Solana on the day of its New York Stock Exchange debut.
• ▪The market capitalization of tokenized traditional assets listed on major crypto exchanges rose to $6.6 billion in June 2026 from $1.4 billion in January 2025.
• ▪Solana handles approximately 95% of global tokenized equity trading volume, with single-day records reaching around $644 million.
• ▪The value of distributed tokenized stocks grew from $951 million in March 2026 to $1.89 billion in July 2026.
• ▪Real-world assets, including tokenized stocks, on Robinhood Chain reached approximately $70 million by late July 2026.

Legal ownership structure fragmentation

• ▪Tokenized stock products encompass diverse legal and economic structures, including issuer-sponsored common stock, structured notes, tracker certificates, custodial entitlements, and synthetic exposures.
• ▪Tokenized stock holders typically do not become shareholders of record and hold claims backed by issuers rather than registered shares.

Regulated infrastructure development

• ▪Traditional finance firms are building settlement rails on public blockchains, and Moody's has launched credit ratings for tokenized assets.
• ▪Regulated U.S. market infrastructure has focused on legal certainty, controlled wallets, regulated custody, transfer-agent records, and integration with the Depository Trust Company.

Platform concentration dynamics

• ▪Ondo and xStocks accounted for 72.7% of distributed tokenized stock value in the July 29, 2026 snapshot.
• ▪Ethereum led blockchain networks with 36.2% of distributed tokenized stock value, followed by Solana at 19.6% and BNB Chain at 15.8% in the July 29, 2026 snapshot.
• ▪Ondo, xStocks, and Securitize combined held an 85.1% market share of distributed tokenized stock value in the July 29, 2026 snapshot.

RWA.xyz measurement methodology

• ▪RWA.xyz's Bridged Token Value methodology excludes balances identified as treasury holdings, pre-minted inventory, and tokens locked in recognized bridge contracts.
• ▪RWA.xyz measures tokenized stocks using Bridged Token Value, calculated as bridged circulating supply multiplied by net asset value.