BNB Chain and Solana lead surge in tokenized stock trading

The market for tokenized stocks, which track listed share prices on blockchain networks, has reached a record on-chain market capitalization of approximately $3.1 billion. This represents a significant increase from $1.7 billion at the end of June.

BNB Chain has emerged as a dominant force in the sector, accounting for nearly half of the estimated $2.9 billion market by late August. The growth on BNB Chain was significantly driven by the launch of Binance’s bStocks, which offers 1:1 backed tokens for US stocks and ETFs. Other major players in the trading volume include Solana and Robinhood Chain.

While weekly spot volume for the sector has peaked near $3 billion, researchers note a gap between trading activity and on-chain utility. Currently, only about 5% of the tokenized equity market is utilized in on-chain finance. However, lending protocols on Solana, such as Kamino and Jupiter, have seen holdings grow tenfold over the past year as investors seek 24/7 trading access and fractional ownership capabilities.