Tokenized stock trading has surged to billion-dollar volumes, as data from Grayscale Investments reveals that weekly spot trading neared $3 billion in early August. Robinhood Chain, BNB Chain, and Solana dominate this market, facilitating most of the blockchain-based equity activity in recent weeks.
Tokenized Stock Trading Expands Across Three Major Chains
Robinhood Chain has rapidly gained traction since its public mainnet launch on July 1. Built as an Ethereum-compatible Layer 2 using Arbitrum technology, the platform targets financial services and real-world asset tokenization.
Eligible users in over 120 countries can access Stock Tokens through the Robinhood Wallet, although availability depends on jurisdiction. The system offers 24-hour trading and access to decentralized exchanges, and supports deploying assets into lending or collateral protocols.
BNB Chain and Solana also compete for market share. Grayscale identifies these three chains as accounting for most tokenized equity trading volume. Infrastructure provided by decentralized protocols such as Uniswap, PancakeSwap, and Raydium supports this growth.
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AAPLThis increased activity is creating a multi-chain ecosystem rather than one controlled by any single blockchain, allowing users a wider selection of networks for tokenized equity trading.
On-chain Use of Tokenized Stocks Tops $110 Million
While turnover continues to rise, the use of tokenized equities within decentralized finance is catching up. Grayscale’s data places the total value locked (TVL) in tokenized stock protocols above $110 million, after spending much of 2025 below $10 million. Solana-based Kamino initially led this jump, with Jupiter also contributing to expanded lending activity. Robinhood Chain and BNB Chain trading venues further accelerated the uptake.
Despite rising activity, only about 5% of the overall tokenized-equity market is currently deployed in onchain financial applications like lending or collateral, with most usage focused on buying and selling.
Token Terminal’s dashboard shows the tokenized stock market cap at approximately $3 billion, while the broader tokenized funds sector stands at $34.3 billion. Major products driving growth in the funds space include sUSDS, BlackRock’s BUIDL, and USYC.
Grayscale’s analysts note that the roughly $3 billion weekly spot trading figure reflects the frequency and value of tokenized equity transactions, while the $3 billion market cap cited by Token Terminal represents the total value of tokenized stocks in circulation.
Legal rights for tokenized equities differ by issuer. Robinhood clarifies that its Stock Tokens act as tokenized debt securities, providing economic exposure but not legal or beneficial ownership of the underlying stocks. Current offerings are unavailable to U.S. clients.
The next stage of growth may depend on expanding utility for tokenized stocks. Most of the present activity is in 24/7 trading, but if these assets become widely accepted as collateral or for other onchain financial uses, the market could see deeper integration with decentralized finance.
While traditional markets rely on complex brokers, a massive shift is happening as Wall Street begins to transition into Web3. Investors now utilize platforms such as 1stepSwap to hold tokenized shares of major U.S. companies, gold, and silver directly within their crypto wallets. By tokenizing real-world assets and instantly sourcing the most competitive market prices, such platforms are removing intermediaries from the investment process entirely.
