Securitize and Ondo dominate the tokenized equity market: a 40x lead over Robinhood
The market for tokenized stocks on the blockchain has reached $3.7 billion, and its structure clearly indicates the dominance of institutional players rather than retail platforms. The leaders here are not popular apps like Robinhood, but specialized platforms originally designed to work with real assets: Securitize and Ondo Finance.
The total volume of the tokenized securities market has already exceeded $3.7 billion, and the distribution of capital among platforms speaks volumes. Securitize and Ondo account for nearly 60% of the entire capitalization of this segment. This is a massive lead over all other participants, including Robinhood, which, with $31 million, ranks only tenth. The gap between leaders and outsiders is dozens of times: Securitize ($1.274 billion) and Ondo ($966 million) surpass Robinhood by more than 40 times.
Who Controls the Market?
The picture of on-chain capital distribution is 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
Such concentration of capital on two platforms is a clear signal. The tokenized stock market has a distinctly institutional character. Investors are choosing not "crypto exchanges" with a retail focus, but infrastructure solutions that ensure legal clarity and direct access to real assets. Robinhood, despite media hype, remains a niche player with a negligible share.
What Is Traded Most Actively?
Analysis of daily trading volumes also reveals interesting trends. The leader in daily turnover is tokenized SpaceX stock at $31.7 million. This is a private company, access to whose shares is extremely limited on the traditional market. It is tokenization that opens up such opportunities for investors.
The top 9 assets by daily trading volume are as follows:
- SpaceX: $31.7 million
- SanDisk: $25.5 million
- SK Hynix: $15.2 million
- NVIDIA: $14.7 million
- Alphabet: $11.6 million
- Nebius: $6.1 million
- Cerebras: $5.3 million
- Broadcom: $4.2 million
- Tesla: $4.1 million
The top of the list consists almost entirely of technology and semiconductor giants. Demand is shifting towards stocks related to artificial intelligence and chip manufacturing. SpaceX's presence at the top is a vivid demonstration of how tokenization solves the liquidity problem for assets unavailable on the classic market.
My view: The tokenized stock market has ceased to be an experiment. In 2026, it is already a full-fledged, working segment with real capital and clear signals. Institutions are voting with their dollars for Securitize and Ondo, while retail platforms remain on the periphery for now. The trend is obvious: the future belongs to specialized solutions, not universal apps.