Binance bStocks Surpass xStocks as Second-Largest Tokenized Stock Issuer in Under Two Months
Quick Look
Binance's bStocks, launched on June 11, have surpassed xStocks to become the second-largest tokenized stock issuer by value, reaching $624 million, behind only Ondo Finance at $927 million, as of August 3, 2026.
AI-generated summary
Why It Matters
Tokenized stock market growth from $80 million to $2.7 billion in a year.
Binance bStocks have overtaken xStocks to become the second-largest tokenized stock issuer by value less than two months after launch. BStocks reached about $624 million on Aug. 3, surpassing xStocks at roughly $579 million but trailing Ondo Finance at about $927 million, according to Token Terminal data. As of Tuesday, bStocks remained in second place at $610.6 million, narrowly ahead of xStocks at $601.2 million. The issuer landscape has shifted sharply as the tokenized stock market has grown. A year earlier, xStocks led with $40.7 million, followed by Robinhood at $37.2 million, while Ondo held about $65,000. The total value tracked by Token Terminal has since surged from roughly $80 million to about $2.7 billion. Binance launched bStocks on June 11 to give investors exposure to US stocks through blockchain-based tokens without directly owning the underlying shares. Changpeng Zhao, Binance’s co-founder and former CEO, attributed bStocks’ rapid growth to Binance’s user base.
What to Watch
AI outlook — possibilities, not facts
Continued growth of the tokenized stock market
Likely · Short term
Open Questions
- Sustainability of bStocks' growth
