BNB Chain has just reached a milestone in the crypto market for tokenized stocks. The network now hosts approximately $1.1 billion in tokenized stocks and ETFs, or nearly 30% of a market valued at around $3.7 billion. Ethereum follows with $828 million, ahead of Solana at $738 million. In January, BNB Chain still only represented 13% of the sector.
In brief
- BNB Chain Surpasses $1 Billion in Tokenized Stocks and ETFs.
- The network concentrates around 30% of the market and 45% of addresses.
- The sector went from $719 million in January to around $3.7 billion.
BNB Chain crosses the billion mark on tokenized stocks
The change in ranking happened quickly in the crypto universe. As of January, Ethereum controlled approximately 48% of the market for tokenized stocks and ETFs. Solana followed with 31%, while BNB Chain weighed only 13%. Nine months later, BNB Chain surpasses both networks with around $1.1 billion.
The progression was already visible this summer. By August, Binance bStocks had surpassed Kraken’s xStocks with approximately $610.6 million in value.
From, the ecosystem continued to grow. BNB Chain notably hosts the securities of Binance bStocks and Ondo Global Markets. Binance Research estimates that bStocks alone is worth around $800 million after less than four months of existence. The product was launched at the end of June.
The number of users is growing even faster. Around 1.8 million addresses now hold tokenized shares on BNB Chain. This represents 45% of the total market. BNB Chain’s share of holders therefore far exceeds its share of value. The network attracts a lot of small wallets.
The crypto market has grown more than fivefold since January
BNB Chain is progressing in a crypto market that is itself changing in size. As of January, tokenized stocks and ETFs accounted for approximately $719 million. The sector today reaches nearly 3.7 billion. The value has therefore increased more than fivefold in nine months.
The month of September further accelerated the movement. The capitalization tracked by Token Terminal increased from $2.87 billion in August to $3.35 billion in September, an increase of around 17%. Volumes are also increasing. By early September, tokenized stocks had already approached $3 billion in spot volume in a single week.
Binance Research gives another measure of this acceleration. On-chain transfers of tokenized stocks exceeded $100 billion in the third quarter, compared to around $6 billion in the first quarter.
These assets are also starting to move away from simple buy-and-hold. The share of tokenized stocks used in DeFi remains limited, but it is growing. According to Binance Research, the committed value ratio in decentralized finance increased from approximately 1.8% to 6.3% in sixty days. The crypto market is therefore starting to use these securities more as real on-chain assets.
Ethereum and Solana remain in the race
BNB Chain takes first place, without really outpacing its competitors. Ethereum maintains approximately $828 million in tokenized stocks and ETFs, or 22% of the market. Solana follows with $738 million and about 20%. Between them, the networks therefore concentrate more than 70% of the value of the sector.
Competition will also increase. Coinbase is already rolling out its own tokenized stocks on Base. Robinhood is developing its own infrastructure, while Ondo’s products are present on several blockchains.
American regulations could further accelerate the movement. In September, the SEC opened a five-year experimental framework for certain tokenized US stocks. Tokenized stocks remain tiny compared to traditional stock markets. Their growth on blockchain is, however, difficult to ignore. $719 million in January. Around 3.7 billion today. And BNB Chain just took over a billion alone.
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