Tokenized stocks have reached a combined market capitalization of $1.2 billion, marking a rapid rise that mirrors the early expansion of stablecoins. The growth reflects rising demand from investors and institutions that now treat on-chain equities as a serious extension of traditional markets. Market value climbed fastest in September and December as new products launched and liquidity improved across major blockchains, according to Token Terminal data.
The sector's growth has been clear. The market turnaround each time was tied to the launch of new products and the increase in users accessing existing platforms. Hence, the journey of tokenized equities was from the narrowest trials of their use to a wider market. Now, observers are likening the sector’s phase to stablecoins in 2020, a time when use was limited but the drive remained constant.
At that time, stablecoins were used mainly by crypto traders. After five years, they are now enabling global crypto markets worth around $300 billion. This analogy has made it easier for us to see tokenized equities as a new market with early, yet observable, traction. The rise in interest has led participants to ask a common question: Will tokenized stocks follow the same adoption curve as stablecoins did?
Several launches fueled the September acceleration. During that period, Backed Finance introduced its xStocks product suite on the Ethereum network. The release included about 60 tokenized equities and relied on partnerships with Kraken and Bybit. This move expanded access and added liquidity through familiar trading venues.
Soon after, new announcements added momentum. Earlier this month, Securitize revealed plans for compliant on-chain trading of public equities. The proposal includes direct share ownership, signaling a shift toward regulated structures within tokenized markets. This step aligns tokenization with existing financial standards.
Looking ahead, Ondo Finance plans to roll out tokenized U.S. stocks and exchange-traded funds on Solana in early 2026. These planned launches show how issuers continue to target different blockchains to reach varied investor bases. Each release has added depth to the market while expanding product choice.
Large exchanges have also moved closer to tokenized equities. Coinbase announced plans this month to offer stock trading as part of its goal to become an “everything exchange.” The plan places tokenized stocks alongside crypto trading within a single platform.
The clearest institutional signal came from Nasdaq. The exchange confirmed it filed with the United States Securities and Exchange Commission to offer tokenized stocks on its platform. The filing would bring blockchain-based shares into one of the world’s largest market infrastructures.
Nasdaq’s head of digital assets strategy, Matt Savarese, said tokenization ranks among the company’s top strategic priorities. He explained that Nasdaq aims to integrate tokenization into existing market systems while meeting regulatory and issuer expectations. He also stated that the exchange seeks gradual adoption rather than disruption, positioning tokenized stocks as a natural extension of current markets.
As institutions, exchanges, and regulators engage more deeply, tokenized equities continue to gain credibility. While still small compared with traditional equity markets, their rapid growth and widening support now place them firmly on the financial industry’s development path.
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Tokenized stocks have reached a $1.2 billion market value as institutions, exchanges, and issuers expand on-chain equity access. Product launches, rising liquidity, and regulatory engagement now position on-chain equities beyond experimentation. The sector’s growth mirrors early stablecoin adoption and signals deeper integration with mainstream financial markets.