Karla Barker 
Tokenized stocks had a quiet but striking summer. Data from RWA.xyz shows $29.5 billion in transfer volume during the 30 days ending August 29. That is up more than 415% from the previous period. The numbers may look odd because most crypto spot trading has been slow for parts of 2026. Tokenized equities, however, are drawing real use.
More wallets are touching equity tokens
The volume jump was not just value moving between large players. Monthly active addresses rose 209% to about 1.3 million. Tokenized stockholders increased 167% to 2.36 million. Distributed value on public networks reached $2.54 billion, up only 1.45%. Transfer volume grew much faster than value, meaning existing tokens are changing hands more often. These transfers are not exchange trading volume. They include custody moves, collateral operations, settlements, and wallet transfers.
Market share stays concentrated
Ondo leads tokenized stock platforms with $842.8 million in distributed value. Kraken’s xStocks follows at $609.3 million. Binance’s bStocks has $599.9 million. Together, those three control about 81% of the tracked market. Securitize Corp. tops asset-level rankings with $163 million, followed by Strategy PP Variable xStock and Ondo’s tokenized Circle product.
Some tokens give direct claims on shares held by regulated custodians. Others offer contractual economic exposure. Voting rights, dividend access, and bankruptcy protections can vary. Users should read the terms before treating them like ordinary brokerage shares.
Exchanges keep adding stock tokens
Coinbase launched tokenized US stocks on Base on August 24. The first underlying names were Nvidia, Apple, Meta, and Alphabet. A regulated custodian, Alpaca, holds the shares within a bankruptcy-remote structure. Eligible non-US users can hold them in self-custody and use DeFi apps. The rollout sits under Abu Dhabi Global Market rules and excludes US persons.
Bitwise followed with Automated Token Portfolios through Coinbase and Glider. Bitwise sets model weights while Glider handles rebalancing. The first strategies focus on Mag7X, robotics, and AI. Bitwise charges a 0.15% methodology fee.
Robinhood Chain also opened stock token access in more than 120 countries. Users can reach Uniswap, Arcus, and 1inch. Uniswap’s combined tokenized-stock volume on Robinhood Chain passed $1 billion by August 21. Bybit expanded xStocks across spot markets and structured products.
RWA rails extend beyond stocks
Stellar’s real-world asset market hit $3.996 billion on August 29, up about 360% from $868.8 million at the end of 2025. That dashboard covers Treasuries, private credit, public credit, and non-US government debt. DTCC also plans to connect its tokenization service to Stellar in the first half of 2027.
LayerZero is another piece of the infrastructure. Ondo uses it to move tokenized equities from Ethereum or BNB Chain into Hyperliquid’s HyperEVM. The process burns tokens on the source chain and mints native versions on the destination. That avoids wrapped copies.
This activity perhaps stands out because speculative crypto trading has been flat. VanEck reported that Bitcoin’s 30-day spot volume fell 27% by mid-August. Tokenized equities carry their own custody, liquidity, and regulatory risks. But the latest data suggests a shift from simple issuance to actual use.