
A new Dune report highlights growth and trading trends in tokenized real-world assets like equities and cash equivalents.
Tokenized markets exhibit distinct trading patterns compared to traditional finance, with real-world assets reaching $34.5 billion, according to a Dune report.
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Tokenized real-world assets bridge traditional financial instruments with blockchain technology.
Tokenized markets show different trading and investment patterns from traditional markets, according to a new Dune report comparing onchain and off-chain activity across equities, credit, commodities and cash-equivalent products.
Dune found the difference pronounced in equities, where single stocks accounted for 81% of tokenized equity spot supply while exchange-traded funds (ETFs) made up 19%.
Armand Khatri, head of ecosystem at Ondo Finance, said tokenization gives investors more control over asset selection by reducing their dependence on local intermediaries’ offerings.
“The investor decides which they want,” he said, referring to the choice between single-company and index exposure.
Dune put the value of tokenized real-world assets at $34.5 billion as of Aug. 31, up more than 140% from a year earlier, with cash equivalents still dominating supply while equities were the most actively traded segment.
US regulators and exchanges have also taken steps to expand tokenized trading. On Sept. 17, the US Securities and Exchange Commission granted a temporary exemption allowing limited trading of tokenized US-listed stocks on certain onchain venues, subject to trading caps, transparency and other requirements.
Commodity Futures Trading Commission (CFTC) Chair Michael Selig also called for US markets to prepare for “mass tokenization” in remarks at the US Treasury Market Conference on Sept. 22.
On Sept. 23, the New York Stock Exchange and Blockchain.com announced a memorandum of understanding aimed at giving Blockchain.com users access to tokenized US-listed stocks and ETFs through NYSE’s planned digital trading platform, subject to regulatory approval.
Tokenized equities remain a fraction of global markets
Separate Binance Research data cited by Binance co-CEO Richard Teng put the tokenized equity market at $4.43 billion as of Sept. 15, up 390% in 2026 but equivalent to just 0.0029% of the $151.9 trillion global listed-equity market.
Binance Research projected tokenized equities could reach about $349 billion by 2030 under its base-case scenario. Teng said tokenization could change how investors access equity markets, but that the shift “won’t happen overnight.”
AI outlook — possibilities, not facts
Tokenized equities could reach about $349 billion by 2030.
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