According to Token Terminal data, the total market value of all tokenized stocks combined hit an all-time high of approximately $3.9 billion on October 12th. On October 6th, the total market value was $3.8 billion; on early September, it was $3.1 billion. Thus, over the last five weeks, the total market value has increased by approximately $800 million.
There are three blockchains that continue to represent a majority. BNB Chain, Ethereum and Solana combine to represent approximately 70% of the total. According to Token Terminal’s 6 October snapshot (the latest published per-chain breakdown) this is the current ranking.
| Chain | Tokenised stock value (6 Oct) | Share of $3.8bn total |
|---|---|---|
| BNB Chain | About $1.2 billion | About 31% |
| Ethereum | $841.4 million | About 22% |
| Solana | $753.4 million | About 20% |
| Top three combined | About $2.8 billion | About 74% |
Source: Token Terminal, as reported on 6 October 2026. By 12 October the three chains’ combined share was reported at around 70% of a $3.9 billion market.
The trackers do not have a uniform consensus as to what the exact size is. RWA.xyz, who tracks a smaller range of products, stated that as of October 12th, tokenized stock had been distributed in the amount of $3.34 billion, an increase of 17 percent over the past 30 days. The difference between these figures stems from the types of products, exchange-traded funds (ETFs) and cross-chain versions each tracker considers; therefore, the trend is more credible than any individual total.
A market run by a few issuers
Similarly, issuance is also concentrated. According to RWA.xyz’s data from October 12, Ondo had $929.6 million, Binance’s bStocks had $923.4 million, and xStocks had 593.4 million, representing approximately 73% of all issued assets, followed by Securitize (426.3 million), Reality (149.6 million), and Robinhood (136.4 million).Since there are only a few issuers, the chain rankings essentially represent the location of the assets deployed by these issuers.
The flow of new product continues. Securitize announced that on Oct. 8 it would begin trading tokenized shares for 12 U.S.-listed stocks (including Apple, Microsoft, Nvidia and Tesla) via its broker-dealer platform using the Solana blockchain and settling trades in USDC. The number of token holders has also increased; RWA.xyz reported that the total number of token holders grew by 23 percent to 4.35 million in the last month.
Still tiny next to the stock market
The World Federation of Exchanges projected that at the conclusion of 2025, the total value of all global stock markets will be approximately $152 trillion. Other projections indicate that the value could exceed $169 trillion by the end of 2026. Therefore, regardless of which estimate you use, $3.9 billion is less than 0.003%. The frequently used calculation (or extrapolation) that moving 1% of the world’s stock markets to blockchain technology would result in an increase in market value of $1.5 to $1.7 trillion is merely a mathematical calculation based on the current size of global stock markets. There are no indications in the existing data to provide a timeline as to when this may occur.
Breadth is another indicator of progress in addition to market value. Dealing.com is a Finvasia Group platform built upon Blockmaze technology. It has achieved the Guinness World Record for having the highest amount of tokenized stocks available for trading on its platform (over 24,000 stocks from 16 different markets). Tokenized stock volume and the amount of money actually held on-chain are two distinct measures, but they will both need to expand in order for the market to become more mature.
What has to be built underneath
Most tokenized stock is not a share in the legal sense. For example, Securitize’s new product line consists of security entitlements held by Securitize as broker-dealer. The announcement made by Securitize indicated that the issuers of the underlying shares did not endorse or sponsor the Securitize products. Usually, when a token is issued based upon a stock, the issuer owns the underlying stock and issues tokens representing those stocks. In both cases, the investors rely on the intermediary for custody of the stock, redemption terms for the stock, and management of any dividend payments, splits or other corporate actions related to the stock. In addition, many of the largest tokenized products, such as Ondo’s and xStock’s, are currently unavailable to U.S. investors.
The transition from a billion dollars to a trillion dollars in value will be determined by the “plumbing” of the market (i.e., verified issuers, regularly submitted proofs of the underlying shares being held, consistent handling of corporate actions, and the ability to access markets on different platforms) rather than by the platform that takes the lead. Blockmaze addresses each of these issues at the protocol level. It requires all issuers to prove their identity and obtain authorization to issue securities prior to deploying any assets onto the Blockmaze platform. Additionally, Blockmaze implements token standards that enforce whitelisting, transfer restrictions and provide for regularly scheduled proofs to be provided by the issuers.
The next several months will indicate if the number of holders continues to grow, and also if there is a trend for more companies to issue debt than those that currently lead the way. Both would provide a better indication of what the market is doing than another record-setting total.
Sources
Token Terminal data via The Crypto Times and TechFlow (12 October 2026), Crypto Briefing and Gokhshtein (6 October 2026) and FinanceFeeds (12 October 2026); RWA.xyz tokenised stocks dashboard, 12 October 2026; Securitize press release, 8 October 2026; World Federation of Exchanges 2025 market highlights; Gulf Business and Zawya (Guinness World Records, July 2026); blockmaze.org.
Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice. Readers should conduct their own research and consult with qualified professionals before making any investment or business decisions.