Tokenized Stock Transfers Surge, Exceeding $8 Billion in a Month

Tokenized stock transfers more than doubled over the past month to $8.41 billion, according to RWA.xyz data, as activity in onchain equity markets continued to accelerate.

The sector's distributed value also climbed 43% over the same period to $2.16 billion, while the number of holders increased 17% to more than 409,000, according to the data platform.

Growth was led by several of the market's largest tokenization platforms. Figure's distributed value surged 935% over the past 30 days, while Securitize's rose 332% and xStocks' increased around 62%.

Ondo remained the largest tokenized stock platform by distributed value at roughly $846 million, followed by xStocks with about $708 million, Securitize with $306 million and Figure with $239 million, according to the data.

Tokenized stocks. Source: RWA.xyz

Tokenized equities outperformed other segments of the RWA market. Distributed value for tokenized US Treasurys, the sector's largest asset class, was essentially flat over the past month, while the broader tokenized RWA market grew about 4% to $33.5 billion.

Related: Tradeweb executes real-time tokenized US Treasury transaction on Canton Network

Crypto and Wall Street race to tokenize stocks

The tokenized stock market has grown from roughly $378 million to $2.16 billion over the past year, a gain of about 471%, according to RWA.xyz data.

The growth has coincided with a wave of new tokenized equity offerings across crypto exchanges. During the SpaceX IPO, Kraken, Bybit and Bitget Wallet used xStocks infrastructure to offer tokenized pre-IPO access. Although customer demand exceeded the available share allocation, it highlighted growing investor appetite for blockchain-based securities.

The momentum has spread to public markets. Earlier this month, Securitize became the first newly public company to issue tokenized versions of its shares on the Solana and Avalanche blockchains as it debuted on the New York Stock Exchange.

Some of the biggest names in traditional finance have also been accelerating their own tokenization efforts. In May, the DTCC announced plans to launch a tokenized securities service in October after receiving regulatory approval to offer tokenization services on pre-approved blockchains under a three-year pilot.

Source: The_DTCC

Earlier this year, the New York Stock Exchange and parent company Intercontinental Exchange unveiled plans for a platform to trade tokenized stocks and ETFs, while Nasdaq partnered with Kraken and infrastructure firm Backed to develop technology linking traditional equities with blockchain networks.

As competition between crypto-native and traditional finance firms intensifies, ICE CEO Jeffrey Sprecher has urged regulators to allow traditional exchanges to offer 24/7 onchain perpetual futures, arguing regulated venues should be able to compete with crypto-native platforms.