Securitize and Ondo have captured 60% of the tokenized stock market: Robinhood ranks only tenth.
The market for tokenized stocks on the blockchain has confidently surpassed the $3.7 billion mark, and its structure turned out to be completely different from what most retail investors expected. Contrary to the hype around popular applications, the real leaders here are platforms originally designed for working with real-world assets — Securitize and Ondo Finance. Together, they control about 60% of the total market capitalization in this segment.
Who is at the top?
According to my analysis of on-chain capitalization data, the balance of power is clear. Securitize holds the top spot with $1.274 billion, followed by Ondo with $966 million. Third place goes to xStock ($576 million), then bStock ($376 million) and Figure ($210 million). Rounding out the top ten are Aktionariat, Republic, Mt Pelerin, Stobox, and, most tellingly, Robinhood — with just $31 million.
The gap between the leaders and the rest of the participants is enormous. Securitize and Ondo surpass Robinhood by more than 40 times! These are not just numbers — they are a clear signal that the market for tokenized stocks has a distinctly institutional character. Despite loud claims, retail giants have so far failed to win the trust of large capital in this niche.
What is being traded most actively?
Another important indicator is the daily trading volume. Here, tokenized SpaceX shares unexpectedly lead with $31.7 million per day. They are followed by SanDisk ($25.5 million), SK Hynix ($15.2 million), and NVIDIA ($14.7 million). Alphabet rounds out the top five with $11.6 million.
Note that the top of the list is dominated by technology and semiconductor companies, as well as private giants like SpaceX. Tokenization provides access to assets that are practically impossible to buy on the traditional market. This is a key advantage driving demand.
My perspective on the situation
The market for tokenized securities in 2026 is no longer a theory, but a fully functioning ecosystem with real capital and clear signals. Investors are voting with their money for platforms that offer access to scarce assets, not for retail applications with widespread advertising. Securitize and Ondo have become beneficiaries of this trend, and I believe their dominance will only strengthen as institutional capital continues to flow in.