Securitize and Ondo have outpaced Robinhood by 40 times: who truly rules the market for tokenized stocks
The market for tokenized stocks on the blockchain has surpassed the $3.7 billion mark, and this growth has turned out to be quite different from what many expected. Contrary to popular opinion, the main driving forces here have not been retail applications like Robinhood, but institutional platforms originally designed for working with real-world assets. The leaders are Securitize and Ondo Finance.
According to my data analysis, these two platforms account for nearly 60% of the entire market capitalization of tokenized stocks. Securitize dominates with $1.274 billion, followed by Ondo with $966 million. For comparison, Robinhood, despite making headlines in the media, ranks only tenth with a meager $31 million. This means the gap between the leaders and the retail giant is more than 40-fold.
Institutional Nature of the Market
Such a concentration of capital is a clear signal. The tokenized stock market is deeply institutional in nature. The platforms that have surged ahead were originally built to serve large players: funds, asset managers, and corporations. They offer infrastructure for issuing and trading tokenized securities, not just "crypto-stocks" for the masses.
The full picture of on-chain market capitalization distribution looks like this:
- 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
What is Traded Most Actively?
Analysis of daily trading volumes also reveals interesting trends. The undisputed leader is tokenized SpaceX stock with a volume of $31.7 million per day. This is followed by SanDisk ($25.5 million), SK Hynix ($15.2 million), NVIDIA ($14.7 million), and Alphabet ($11.6 million).
Note that the top is dominated by technology and semiconductor companies. This indicates that investors are seeking access to assets that are either hard to reach on the traditional market or require significant capital investment. The tokenization of SpaceX is a prime example: it opens access to shares of a private company that were previously the prerogative of a select few.
The tokenized stock market in 2026 is no longer a theory but a functioning ecosystem with real capital and clear signals. Investors are voting with their dollars for institutional platforms and high-tech assets. Robinhood, despite its popularity, remains merely a bit player in this field.
My professional opinion: the current dynamics confirm that the future of tokenization lies not in retail applications but in B2B infrastructure. Platforms that can provide liquidity and compliance with regulatory standards for large institutional players will define the landscape of this market in the coming years.