The tokenized stock market has exceeded $3.7 billion: Securitize and Ondo crush Robinhood by a margin of 40 times
The market for tokenized stocks on the blockchain has reached an impressive $3.7 billion. However, the main surprise lies not in its scale, but in the balance of power: contrary to many expectations, the leaders are not retail giants, but platforms originally focused on institutional real-world assets — Securitize and Ondo. Together, they control nearly 60% of the entire capitalization of this segment.
The market for tokenized securities has finally ceased to be a theoretical concept. Analyst data paints a clear picture: capital flows where there is depth and reliability, not big names. Securitize confidently holds the top spot with a capitalization of $1.274 billion, followed by Ondo with $966 million. xStock rounds out the top three with $576 million. Meanwhile, Robinhood, despite media hype, ranks only tenth with a paltry $31 million. The gap between the leaders and the laggard is more than 40-fold. This is not just a lag; it is a chasm.
Institutional Nature of the Market
This distribution of power is not a coincidence but a clear signal. The market for tokenized stocks has a pronounced institutional character. Retail applications like Robinhood cannot yet compete with platforms that were built from the ground up to work with real assets. Securitize and Ondo are not just trading venues; they are infrastructure projects providing access to shares of private companies and complex financial instruments. This is precisely what attracts large capital.
Top Assets: AI and Semiconductors Rule
An analysis of daily trading volumes also sheds light on investor preferences. The absolute leader is tokenized SpaceX shares, with a daily volume of $31.7 million. They are followed by SanDisk ($25.5 million), SK Hynix ($15.2 million), and NVIDIA ($14.7 million). The top of the list is dominated by technology and semiconductor companies, as well as giants like Alphabet ($11.6 million). Notably, tokenization provides access to shares of private companies like SpaceX, which are nearly impossible to buy on the traditional market.
My analysis: The tokenized stock market in 2026 is no longer an experiment but a functioning mechanism with real capital and a clear signal from investors. They are voting for institutional depth and access to unique assets, not retail noise. And while Robinhood tries to catch up, Securitize and Ondo are already shaping the standards of the new financial world.