Ondo's tokenized asset growth is transitioning from a single-network model to a broader distribution of liquidity across multiple blockchains. While Ethereum remains the platform's core with $2.1 billion, this figure now accounts for 52.37% of the total, reflecting a decrease in asset concentration.
Growth has been particularly notable on Solana, where tokenized assets surpassed $456.7 million following a 60.32%—or approximately $147 million—increase over a 30-day period. Additionally, BNB Chain grew to $429.7 million, representing a 19.15% increase. Across the ecosystem, 521,028 token holders currently transfer $2.38 billion per month, indicating that these assets are actively entering circulation.
Solana Leads Tokenized-Equity Lending
Tokenized equities are expanding beyond basic ownership into on-chain credit markets. Solana leads this segment, with over $20.7 million in tokenized stock utilized as collateral through Kamino, allowing users to access liquidity without liquidating their equity exposure.
In comparison, Ethereum records $5.8 million in tokenized stocks serving as lending collateral via Euler and Morpho, while Robinhood Chain has generated just under $2 million in additional supply through Morpho.
Credit Demand and Risk Management
Tokenized equities are currently testing credit demand and the ability of lending protocols to manage risk. On Aave V4’s Equities Hub, collateral factors range from 65% to 79%, requiring borrowers to maintain specific buffers before liquidation. Future growth in this sector is expected to be measured by rising collateral deposits, USD Coin borrowing demand, and the effectiveness of risk controls during expanding activity.
