Securitize and Ondo lead the tokenized stock market, leaving Robinhood far behind.
The market for tokenized stocks on the blockchain has reached an impressive $3.7 billion. However, unlike the retail boom many expected, this sector exhibits a distinctly institutional character. The leaders are not popular consumer applications, but platforms initially focused on working with real-world assets — Securitize and Ondo Finance.
Together, these two platforms control nearly 60% of the total market capitalization of tokenized stocks. This is a colossal gap: the volume of tokenized assets under management for Securitize is $1.274 billion, and for Ondo — $966 million. For comparison, Robinhood, despite its big name and broad user base, ranks only tenth with a meager $31 million. The difference between the leaders and the retail giant is more than 40 times.
Who is trading the most?
Analysis of daily trading volumes shows that investors prefer technology and semiconductor giants. The undisputed leader is tokenized SpaceX stock, with a trading volume of $31.7 million per day. It is followed by SanDisk ($25.5 million), SK Hynix ($15.2 million), and NVIDIA ($14.7 million). Notably present are Alphabet ($11.6 million) and Tesla ($4.1 million).
SpaceX deserves special attention. Tokenization provides access to shares of a company that are practically unavailable to retail investors on the traditional market. This clearly demonstrates the key advantage of the technology: the ability to trade stakes in private companies with high liquidity.
My analysis: The market for tokenized stocks has ceased to be a theoretical concept. In 2026, it is already a full-fledged, working sector with real money and a clear signal about which assets are truly in demand. Institutional platforms like Securitize and Ondo win due to their liquidity depth and focus on quality issuers. Retail giants like Robinhood are still only exploring this niche, but the gap is too large to be closed quickly.