Overview
- By Sept. 9, active tokenized stock market capitalization had climbed about 314% year‑to‑date to roughly $4 billion while monthly DEX trading rose from $237 million in January to $7.9 billion in August.
- The market has moved from issuance to distribution, with bStocks and Robinhood’s token suites capturing about 80–88% of issuer volume and bStocks alone accounting for roughly 90% of tokenized equity DEX turnover in some measures.
- DeFi use of tokenized equities has grown rapidly, with DeFi TVL tied to tokenized stocks near $289 million and tokenized ETF/equity deposits into lending and liquidity protocols rising about 19x to roughly $67.6 million.
- Coinbase launched B20 tokenized U.S. stocks on Base starting Aug. 24, and within weeks cumulative DEX volume for those tokens topped $228 million with single‑day volume peaking near $100 million while Aerodrome has handled more than 77% of Base trading.
- The surge creates practical risks for users and markets because custody structures (for example Alpaca under ADGM), concentrated DEX liquidity, and session‑aware oracles that enable 24/7 lending can amplify liquidation, operational or regulatory shocks.