According to industry data, the Ethereum network had the largest share with 34 percent. It was followed by BNB Chain with 30 percent and Solana network with 23 percent. The biggest increase came from Kraken exchange's xStocks product with $507 million in tokenized shares and Binance's bStocks product with $334 million. Ondo Finance remained the largest issuer of tokenized shares with $955 million of on-chain shares.
More and more crypto platforms are moving traditional investment products to the blockchain and, in many cases, opening these assets to investors outside the United States. Tokenized shares also offer investors share-based ownership and seamless trading.
Binance, the world's largest crypto exchange, launched zero-fee trading on more than 7,000 US tokenized stocks for eligible users on June 1, as part of its strategy to become a multi-asset platform. Coinbase launched commission-free US stock and ETF trading five days a week in December 2025. In April, crypto exchange Bitget launched a product tied to the pre-IPO phase of Elon Musk's space company SpaceX. Vienna-based Bitpanda shared its plan to expand its product range to approximately 10 thousand stocks and exchange traded funds in January.
Kraken became one of the first major crypto platforms to open access to 11 thousand US stocks and exchange-traded funds via xStocks in April 2025. xStocks' cumulative trading volume exceeded $25 billion in approximately eight months after its launch.
The market for tokenized real-world assets grew 589 percent from early 2025 to June 2026, with government bonds and money market funds leading the growth. Tokenized precious metals also increased by 39 percent during this period, gaining a value of approximately $1.5 billion.
By contrast, shares make up a small portion of the broader tokenized asset market. Equities account for only about 5.5 percent of the $34 billion tokenized asset market. According to industry data, tokenized US Treasury bonds worth approximately $15 billion make up the largest portion with a 44 percent share. It is followed by tokenized commodities worth $4.5 billion with a 13 percent share.