Tokenized stock market expands as Kraken surpasses 1,000 instruments

The market for tokenized stocks is experiencing rapid growth, reaching a valuation of approximately $3.58 billion with 4.39 million holders as of October 22, 2026. This represents a monthly increase of about 13%.

Kraken has significantly expanded its xStocks lineup, growing from 131 instruments in September 2026 to over 1,000 by late October. These xStocks are tokenized versions of US equities and ETFs, backed 1:1 by underlying assets held in regulated custody. The products are available across multiple blockchains, including Solana, Ethereum, and BNB Chain, allowing holders to use them in DeFi applications.

Access to these products varies by jurisdiction. Most offshore offerings, including Kraken’s xStocks, Binance’s bStocks, and Coinbase’s tokens on Base, exclude US residents, as well as individuals in the UK and Canada. In the US, investors are primarily limited to regulated broker-backed options such as Dinari and Securitize. While the SEC’s Innovation Exemption issued in September 2026 has created a potential path for onchain trading venues in the US, no such venues had commenced trading as of late October.