Looking at the most recent crypto data, it’s pretty wild to see that the tokenized stock market has jumped from $329 million up to $1.7 billion just over the past year; that’s a massive growth of more than 5 times.
The way the market is made up has really changed a lot, too: while crypto-linked products used to totally own the scene at 79 percent, they are sitting at just 21 percent these days.
Meanwhile, artificial intelligence (AI) and chips have seen a huge leap from 0.3 percent all the way to 15.5 percent, and megacap tech has also climbed up significantly, moving from 0.6 percent to 10.6 percent.
The compositional shift
Crypto-linked products have lost the top spot to the “other” category, a long tail of hundreds of smaller listings, which now makes up 35 percent of the market, up from 15 percent a year earlier.
Exchange-traded funds (ETFs) and indices grew to 17.3 percent of the market, up from 4.5 percent. The fastest riser has been AI and chips, which vaulted from less than $1 million in June 2025 (0.3 percent of the market) to 15.5 percent a year later. Megacap tech (companies with a market cap around $100 billion or more) now accounts for 10.6 percent of the market, up from 0.6 percent a year ago.
What’s driving the growth
Unlike stablecoins, where market cap directly reflects demand, tokenized stocks move with their underlying equities, so growth doesn’t cleanly separate new issuance from price appreciation.
The evidence points to issuance: more than half of today’s market cap sits in assets that weren’t onchain a year ago. Most remaining balances arrived mid-year, after much of the period’s price movement in the underlying stocks had already occurred. The tokenized stock market is now one of the fastest-growing categories of tokenized real-world assets (RWAs).
The broader RWA wave: Tokenized stock market in context
Tokenized stock markets represent one of the fastest-growing segments within the broader RWA market, which crossed $10 billion in total market cap in 2026, up tenfold from under $1 billion in early 2024. Weekly trading for these RWAs hovered around $735 million in 2026, even spiking to almost $20 billion late in 2025.
Tokenized stocks have become a standout category, really rounding out the RWA world alongside the heavy hitters like tokenized Treasuries and private credit.
For the crypto crowd, the point is pretty straightforward: tokenized stocks are opening doors by enabling 24/7 trading, fractional ownership, and decentralized finance (DeFi) composability, all of which have made it way easier for people to get into traditional stocks. It’s worth noting that about 80 percent of all that trading action is coming from users in emerging markets, which really highlights a massive, genuine demand that goes way beyond just pure speculation. By switching to trading tokenized equities straight with stablecoins, these users are dodging an average 3.6 percent offramp fee and roughly $40 in fixed Society for Worldwide Interbank Financial Telecommunication (SWIFT) costs every time they make a transaction.
As Token Terminal data shows, Ethereum leads with 34 percent of tokenized stock market share, followed by BNB Chain at 30 percent and Solana at 23 percent, underscoring the multi-chain nature of this growing sector.