Token stock transfers more than doubled over the past month to $8.41 billion, as activity in onchain stock markets continues to accelerate, according to RWA.xyz data.
The sector’s distributed value also grew 43% to $2.16 billion over the same period, while the number of holders increased 17% to more than 409,000, according to the data platform.
The growth was driven by several of the largest tokenization platforms in the market. Over the past 30 days, distributed drawing value has increased by 935%, while Securitize has increased by 332% and xStocks has increased by approximately 62%.
According to the data, Ondo remains the largest tokenized stock platform in terms of distributed value at around $846 million, followed by xStocks with around $708 million, Securitize with $306 million and Figura with $239 million.
Tokenized shares. Source: RWA.xyz
Tokenized stocks performed better than other segments of the RWA market. The distributed value of tokenized U.S. Treasuries, the largest asset class in the sector, has been broadly flat over the past month, while the broader market for tokenized RWA assets rose about 4% to $33.5 billion.
Related: Tradeweb executes real-time tokenized U.S. Treasury transactions on the Canton Network
Crypto and Wall Street are racing to tokenize stocks
According to data from RWA.xyz, the value of the tokenized stock market has grown from approximately $378 million to $2.16 billion over the past year, an boost of approximately 471%.
The boost coincided with a wave of novel tokenized stock offerings on cryptocurrency exchanges. During the SpaceX IPO, Kraken, Bybit and Bitget Wallet leveraged the xStocks infrastructure to offer tokenized pre-IPO access. While customer demand exceeded the available share allocation, it underscored investors’ growing appetite for blockchain-based securities.
The momentum spread to public markets. Earlier this month, Securitize became the first newly public company to debut on the New York Stock Exchange, issuing tokenized versions of its shares on the Solana and Avalanche blockchains.
Some of the biggest names in established finance are also accelerating their own tokenization efforts. In May, DTCC announced plans to launch a tokenized securities service in October after receiving regulatory approval to offer tokenization services on pre-approved blockchains as part of a three-year pilot.
Source: The_DTCC
Earlier this year, the New York Stock Exchange and parent company Intercontinental Exchange unveiled plans for a platform for trading tokenized stocks and ETFs, and Nasdaq partnered with Kraken and infrastructure company Backed to develop technology that connects established stocks with blockchain networks.
As competition between cryptocurrency firms and established financial firms intensifies, ICE CEO Jeffrey Sprecher has urged regulators to allow established exchanges to offer onchain futures contracts 24/7, arguing that regulated systems should be able to compete with cryptocurrency platforms.
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