The tokenized stock market has surpassed $3.7 billion: Securitize and Ondo have outperformed Robinhood by a factor of 40.
The market capitalization of tokenized stocks on the blockchain has exceeded $3.7 billion. And, contrary to many expectations, the key players here are not retail platforms, but institutional giants originally focused on real-world assets — Securitize and Ondo.
Together, these two platforms account for nearly 60% of the total market capitalization of tokenized stocks. This is a massive lead, clearly demonstrating where the main flows of institutional capital are directed. Robinhood, despite its big name and wide media recognition, ranks only tenth with $31 million — 40 times less than the leaders.
Where the value is concentrated
The picture of capital distribution is extremely clear. Securitize dominates with a market cap of $1.274 billion, followed by Ondo with $966 million. The top three is rounded out by xStock ($576 million), followed by bStock ($376 million), Figure ($210 million), Aktionariat ($118 million), Republic ($113 million), Mt Pelerin ($56 million), Stobox ($34 million), and finally Robinhood with $31 million.
This distribution is a clear signal: the tokenized stock market is distinctly institutional in nature. Platforms that were created from the start to work with real-world assets have taken the lead, not retail applications, which many had predicted would play this role.
What is traded most actively
An analysis of daily trading volumes also provides an interesting picture. The undisputed leader is tokenized SpaceX shares with a daily volume of $31.7 million. This is notable because SpaceX is a private company, and tokenization opens access to its shares, which are virtually impossible to buy on the traditional market.
Next come 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), and Tesla ($4.1 million). The top of the list is dominated by technology and semiconductor companies, reflecting the global trend towards AI and chip manufacturing.
Tokenized securities are no longer just a theory. In 2026, this is a fully operational market with real capital, tangible volumes, and a clear signal about what investors truly want to own.
My conclusion: While retail investors chase memes, "smart money" has long flowed into tokenized assets. Securitize and Ondo haven't just surpassed Robinhood — they are setting a new standard for the entire industry. Ignoring this trend means missing one of the most significant opportunities of 2026.