Tokenized Stocks Hit $3.1 Billion Market Cap Amid BNB Chain Dominance
The market capitalization of tokenized stocks has reached an all-time high of $3.1 billion, up from just $1.7 billion in late June. This represents a nearly doubling of value in about two months.
BNB Chain is the dominant player in this sector, accounting for roughly one-third of the total market cap at over $1 billion. The chain's share of tokenized equities supply reached approximately 50% by late August, with cumulative trading volume surpassing $5 billion.
The catalyst behind BNB Chain's success was Binance's launch of bStocks on June 11, which creates BEP-20 tokens backed 1:1 by actual US stocks and ETFs. Within two weeks of launch, bStocks hit $100 million in assets under management, with cumulative volume exceeding $19 billion by late August.
The product offers exposure to over 700 assets on-chain, including predictable names like NVIDIA and Tesla as well as pre-IPO companies such as SpaceX. However, multiple tokenized versions of the same stock can exist simultaneously from different issuers, fragmenting liquidity.