Wall Street’s favorite equities are quietly becoming crypto assets, and the numbers behind that shift just hit a new milestone. Monthly transfer volume for tokenized stocks surged more than 415% over the past 30 days to 29.5 billion USD, according to data from RWA.xyz, as active addresses and holder counts more than doubled over the same window.
The explosion in onchain activity signals that tokenized equities have moved beyond the experimental phase and into a genuine growth market, with retail and institutional users now moving real volume through platforms like Ondo, Kraken’s xStocks, and Binance’s bStocks.
Transfer volume, addresses, and holders all doubled or more
According to RWA.xyz, monthly transfer volume for tokenized stocks climbed to 29.5 billion USD, a jump of more than 415% in just 30 days. Monthly active addresses rose more than 209% to roughly 1.3 million, while the number of tokenized stock holders climbed 167% to 2.36 million.
The total value of tokenized stocks distributed onchain also rose, gaining 1.45% over the past 30 days to 2.54 billion USD. That figure is up roughly 637% from 344 million USD a year ago, illustrating just how quickly the sector has scaled from a niche curiosity into a multi-billion-dollar market infrastructure segment.
In other words, the distributed value of tokenized equities has grown more than sevenfold year over year, while transfer volume — a measure of how actively those tokens are being used — grew more than fivefold in a single month. That combination suggests holders are not simply buying and sitting on the tokens. They are trading them, moving them between wallets, and using them as building blocks in onchain applications.
Securitize, Strategy, and Circle top the rankings
Among individual tokenized stocks, Securitize Corp. was the largest tracked by RWA.xyz at about 163 million USD in distributed value, followed by Strategy PP Variable xStock at 136 million USD and an Ondo-tokenized version of Circle Internet Group at 109 million USD.
By platform, Ondo led the market with 842.8 million USD in distributed value, followed by Kraken’s xStocks at 609.3 million USD and Binance’s bStocks at 599.9 million USD. Together, the three platforms accounted for roughly 81% of the entire tokenized stock market, according to the data.
The concentration highlights how quickly a handful of issuers have come to dominate a market that barely registered on industry dashboards eighteen months ago. It also raises the stakes for competitors racing to launch their own tokenized equity products before the leaders consolidate further.
Platforms are racing to expand what tokenized stocks can do
The surge in activity comes as crypto platforms introduce new ways for investors to trade, hold, and use tokenized equities onchain.
On August 24, Coinbase’s tokenized US stocks went live on Base, the exchange’s Ethereum layer-2 network. The offering, known as B20 tokens, allows eligible non-US users to trade shares of companies such as Nvidia, Apple, Meta, and Alphabet around the clock. Critically, the tokens can be held in self-custody wallets and used across decentralized finance applications, turning what was once a passive equity position into a composable DeFi asset.
A day later, asset manager Bitwise launched automated portfolios built from Coinbase’s tokenized stocks, allowing eligible non-US investors to follow preset strategies while keeping the underlying assets in their own wallets. The initial portfolios target the “Magnificent Seven” mega-cap technology stocks as well as robotics and artificial intelligence sectors, a nod to where investor demand is currently concentrated.
Other platforms have expanded how tokenized stocks can be put to work. In July, Bybit added tokenized shares of Nvidia, Apple, Tesla, and other US companies as collateral for margin loans, letting traders unlock liquidity without selling their positions. Meanwhile, Robinhood-backed decentralized exchange Arcus launched more than 95 stock tokens and perpetual markets on Robinhood Chain, extending the trend toward around-the-clock, onchain equity exposure.
Why the timing matters
The tokenized equity boom is arriving alongside a broader wave of institutional interest in real-world assets. Tokenized funds, tokenized treasuries, and now tokenized stocks are increasingly seen as the most practical bridge between traditional finance and public blockchains, offering near-instant settlement, fractional ownership, and programmability that legacy market infrastructure cannot match.
For DeFi protocols, tokenized stocks represent a new class of collateral and a fresh source of trading activity. For exchanges and issuers, they open the door to non-US investors who want exposure to US equities without navigating traditional brokerage rails. And for investors, the ability to hold Nvidia or Apple exposure in a self-custody wallet — and deploy it in a lending protocol or automated strategy — is precisely the kind of utility that plain-vanilla equities have never offered.
The 29.5 billion USD in monthly transfer volume also underscores a shift in how these assets are treated. Early tokenized stock experiments were dominated by speculative flurries followed by long stretches of inactivity. The current data, with more than 1.3 million monthly active addresses, points to sustained, habitual usage.
What comes next
With Ondo, Kraken, and Binance controlling more than 80% of the market, the next phase of growth will likely be decided by product depth rather than product existence. Coinbase’s Base integration and Bitwise’s automated portfolios suggest the battleground is moving toward usability: portfolios, strategies, collateral functions, and cross-chain mobility.
Regulatory boundaries remain the defining constraint. Most of the new offerings are restricted to non-US users, a reminder that the largest pool of equity demand is still walled off. But if the past 30 days are any indication — 415% volume growth, 2.36 million holders, and a 637% year-over-year jump in distributed value — the market is not waiting for permission to build.
Tokenized stocks are no longer a novelty. They are quickly becoming one of the fastest-growing corners of the onchain economy, and the latest RWA.xyz data suggests the trend is still in its early innings.
1.3 million monthly active addresses trading tokenized stocks, up 209 percent. actual users, not just treasury wallets shuffling the same tokens around
agree but transfer volume up 415 percent while distributed value only rose 1.45 percent means a lot of churning on a small base. still early, careful
churn is the point tho. transfer volume is the usage metric and t+2 settlement is the competitor getting smoked here
t+2 getting smoked is the framing nobody in tradfi wants to touch. 29.5B moved in 30 days because waiting two days for settlement is now optional
The 1.45 percent distributed value point matters more than people think. Trading volume 300x the value actually settled is a casino, not a market.
415% volume jump in 30 days while distributed value only rose 1.45%. people are actually trading these, not parking them in a wallet
yep and 209% address growth means the churn is spreading beyond a few bots. usage like that compounds
1.3M active addresses trading tokenized nasdaq names instead of opening a broker app. the fee arbitrage must be ridiculous
Securitize at 163M and Ondo leading platforms at 842.8M distributed. The league table already has its winners, latecomers are fighting for scraps.
sleeper detail: bstocks at 599.9M trailing xstocks by under 10M for second place. those two have been flipping monthly all year
from 344M to 2.54B in a year and most brokers still make you wait two days to settle. the 29.5B monthly transfer number is the quiet flex here
bstocks and xstocks flipping each other monthly for second place while ondo clears 842M distributed. the league table already picked its winners