The tokenized stock market has reached $3.7 billion: Securitize and Ondo surpass Robinhood by 40 times.
The market for tokenized stocks on the blockchain has confidently surpassed the $3.7 billion mark in total market capitalization. However, the main surprise lies not in the volume itself, but in who is dictating the rules of the game today. Contrary to many expectations, the leaders are not retail giants like Robinhood, but platforms originally designed for real-world assets — Securitize and Ondo Finance.
Together, these two platforms account for about 60% of the entire tokenized stock market. For comparison: Robinhood, despite the loud headlines and widespread recognition, ranks only tenth with a figure of $31 million. The gap between the leaders and the rest of the participants is colossal — Securitize and Ondo surpass Robinhood by more than 40 times in terms of market capitalization.
How the forces are distributed in the market
The current picture of on-chain capital distribution looks as follows:
- Securitize: $1.274 billion
- Ondo Finance: $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
These figures clearly demonstrate that the market for tokenized securities is predominantly institutional in nature. Platforms that from the very beginning focused on working with real assets, rather than creating applications for mass retail trading, have come out clearly ahead.
What is being traded most actively
An analysis of daily trading volumes also revealed an interesting pattern. The leader in this indicator was tokenized SpaceX shares — $31.7 million per day. This is particularly telling, as SpaceX is a private company, and tokenization provides access to its shares, which in the traditional market is either extremely difficult or completely impossible.
Top tokenized stocks by daily trading volume:
- 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
Technology and semiconductor companies dominate the top of the list. Demand is shifting towards securities related to artificial intelligence and chip manufacturing — this is a clear market signal about where the interests of institutional investors are directed.
My view on the situation: The tokenized stock market in 2026 is no longer a theory or an experiment. It is a working segment with real capital, clear drivers, and a distinct signal about what investors truly want to own. While retail platforms like Robinhood try to attract the mass user, institutions are already voting with their money for Securitize and Ondo — and this trend will only intensify.