The tokenized stock market has grown to $3.7 billion: Securitize and Ondo have pulled 40 times ahead of Robinhood.
The market for tokenized securities on the blockchain has confidently surpassed the $3.7 billion mark in total market capitalization. However, the key takeaway from this growth is not so much the numbers as the structure: the market has proven to be deeply institutional, not retail. My calculations show that more than 60% of the total market capitalization is controlled by just two platforms — Securitize and Ondo Finance. And this fundamentally changes the perception of the sector.
The leaders have left not only startups but also big names like Robinhood far behind. The on-chain market capitalization of the platforms is distributed as follows:
- Securitize — $1.274 billion;
- Ondo — $966 million;
- xStock — $576 million;
- bStock — $376 million;
- Figure — $210 million;
- Aktionariat — $118 million;
- Republic — $113 million;
- Mt Pelerin — $56 million;
- Stobox — $34 million;
- Robinhood — $31 million.
The gap between Securitize and Robinhood is more than 40 times. This clearly demonstrates that the retail giant, despite the media hype, has not yet become a significant player in the tokenization of real-world assets. The real battle is unfolding between platforms that were originally designed to work with traditional assets, not for trading memes.
What is being traded most actively?
The leader in daily trading volume is the tokenized share of SpaceX — $31.7 million. This is notable because SpaceX is not a public company, and tokenization provides access to it that is impossible on the classic market. It is followed by SanDisk ($25.5 million), SK Hynix ($15.2 million), NVIDIA ($14.7 million), and Alphabet ($11.6 million).
At the top of the list, technology and semiconductor giants dominate, signaling a clear demand for stocks related to artificial intelligence and chip manufacturing. This is not a coincidence but a distinct trend: investors are voting with on-chain capital for the future of technology.
My analysis: The market for tokenized stocks has ceased to be an experiment. In 2026, we are seeing a working, mature market with real volumes and a clear signal about what investors truly want to own. The dominance of Securitize and Ondo is not just statistics but an indicator that institutional money is already here, and it is choosing professionals, not trendy applications.