Tokenized Stock Trading Surges on Three Blockchains
Grayscale's research notes show that three blockchains have led tokenized stock trading last week, with Robinhood Chain, BNB Chain, and Solana handling most of the volume. The weekly spot volume for the sector peaked near $3 billion in early August, indicating a surge in interest.
The tokenized equity market has seen significant growth, but almost none of the money is put to work in on-chain finance after trades settle. Grayscale's research head Zach Pandl attributed this to investor preference for round-the-clock trading and access from anywhere, rather than using their tokens for other purposes.
Value locked in tokenized stocks passed $110 million in late August, according to Grayscale's data, which is far below the billions changing hands every week. Lending is starting to catch up, however, with holdings inside Kamino and Jupiter, two Solana lending protocols, growing roughly tenfold in a year.