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Tokenized stock market caps hit record $2.3 billion as exchanges expand

Ethereum leads with a 34% share of tokenized stock market cap, while Kraken’s xStocks contributes $507 million.

Reported · Written up by our desk · Market Structure

Cointelegraph reports the global market capitalization of tokenized stocks rose to a record $2.3 billion on Wednesday, driven by more investors seeking blockchain-based exposure to equity products launched by cryptocurrency exchanges.

Ethereum held the largest market share at 34%, followed by BNB Chain at 30% and Solana at 23%, according to data shared by analytics firm Token Terminal. Cointelegraph adds that the largest gains came from Kraken exchange’s xStocks at $507 million and Binance’s bStocks at $334 million.

Ondo Finance remained the biggest tokenized stock issuer with $955 million in onchain equities, Token Terminal data showed. The report also notes that tokenized stocks can offer fractional ownership and around-the-clock trading.

Cointelegraph points to ongoing expansion of traditional-market offerings onto crypto rails, including Binance’s June 1 move to enable zero-commission trading for over 7,000 US tokenized stocks for eligible users, Coinbase’s December 2025 launch of commission-free US stock and ETF trading with 24/5 availability, and Bitpanda’s plan to add roughly 10,000 stocks and ETFs. It also cites Kraken’s xStocks rollout providing access to 11,000 US-listed stocks and ETFs and says cumulative xStocks trading volume exceeded $25 billion within about eight months of launch.

Latest closeEthereum $1,918.66 ▲2.7%|Solana $74.40 ▲0.9%|BNB $598.32 ▲0.9%

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