Crypto
Home›Crypto›Market Structure›Tokenized stock trading hits record $11.3B in July, bo…
Tokenized stock trading hits record $11.3B in July, boosted by one QQQ token
Binance-linked QQQB accounted for about 82% of July tokenized-equity volume, and without it July volume would have been about $2.03B.
Tokenized stock trading reached a record $11.3 billion in July, rising 288% month over month, according to CoinDesk Data’s latest Stablecoins and Tokenized Assets report.
The surge was driven mainly by a single QQQ-tied token on Binance, with Binance bStocks accounting for $9.41 billion, or 83.3% of the total tokenized-equity volume. QQQB, which tracks Invesco’s QQQ ETF, generated $9.27 billion on its own, roughly 82% of all tokenized-equity volume in July.
When QQQB is excluded, total tokenized-equity volume drops to about $2.03 billion, about 30% below the market’s implied June total of $2.91 billion, the report said.
CoinDesk Data also noted that QQQB began trading on Binance on June 30 with zero maker fees through Aug. 31, and Binance began counting stocks and bStocks volume at three times traded value for some users from July 23 for higher VIP tiers, without changing actual trading volume. The underlying Invesco QQQ Trust fell 6.6% in July, while tokenized equities, which can be traded around the clock, saw the biggest activity amid volatile AI and semiconductor-related trading and wider market catalysts including the FOMC meeting and big tech earnings.