Tokenized stock trading surges on decentralized exchanges

The market for tokenized stocks and exchange-traded funds (ETFs) on decentralized exchanges (DEXs) has experienced massive growth. Total trading volume in this category rose over 10,000% year-over-year to $48.7 billion, with tokenized equities increasing their share of total DEX spot volume from 0.1% at the end of 2025 to over 4% in 2026.

Uniswap has emerged as a dominant leader, handling approximately $17.1 billion in volume. Its v4 and v3 deployments accounted for roughly 60.1% of the market share in a recent 30-day window. To support regulated assets, Uniswap introduced Permissioned Pools in v4, allowing issuers to implement participation restrictions for securities compliance.

BNB Chain has become the first blockchain to surpass $1 billion in tokenized assets, holding a market capitalization of approximately $1.1 billion and capturing nearly 30% of the global segment. This represents a significant shift from early 2026, when Ethereum held a 48% market share. Solana follows in third place with $738 million in tokenized assets.

On the Base blockchain, Coinbase-issued tokenized stocks—including major U.S. equities like NVDA, AAPL, and GOOGL—generated $1.5 billion in DEX volume over the last 30 days, a 313% increase from the previous month. These assets are backed by shares held in regulated custody outside the United States.