QQQb Dominates Tokenized Stock Trading on DEXs with $1.7B Volume

Tokenized stocks have gained significant traction on decentralized exchanges (DEXs), with one asset standing out from the rest. QQQb, a tokenized version of Invesco's popular tech ETF, has racked up an impressive $1.7 billion in DEX trading volume over the 30-day period ending August 31, 2026. This figure dwarfs its competitors, with SPCXb and SPYb posting volumes of approximately $849 million and $645 million respectively.

The surge in QQQb's trading volume can be attributed to Binance's incentive structure, which offered zero maker fees on these products through the end of August 2026. This promotion has attracted larger traders, who have been drawn to the asset's high multipliers. In July 2026 alone, tokenized stock trading volumes across DEXs exceeded $11 billion, with QQQb accounting for roughly 82% of that total.

The concentration of trading volume on BNB Chain and Robinhood Chain is a notable trend in the market. The top seven names all trade on these two chains, with QQQb's dominance being a significant factor in this phenomenon.