The tokenized stocks market has reached $3.6 billion in total value, spanning 4,555 assets. However, recent data reveals a sharp divergence in how this growth is distributed across blockchain networks and investor types.
Avalanche Dominates Institutional Capital
Over the past seven days, Avalanche blockchain captured $131.2 million in new tokenized-stock value, leading all networks. This growth was driven largely by Securitize's SECZ token, which added $132 million in market capitalization—nearly ten times more than the second-largest tokenized stock.
At the issuer level, Blackrock-backed Securitize accounted for $131.1 million of market-cap growth, more than seven times the combined growth of the next seven largest issuers. Other notable moves included tokenized SpaceX exposure through Binance's SPCXb, which gained $13.3 million, and Strategy-related products, which added $22.6 million across multiple platforms.
The concentration of capital in a small number of large transactions suggests that Avalanche's growth came from institutional investors rather than a broad retail base.
Solana and Robinhood Lead in User Adoption
The holder data tells a different story. Solana attracted 123,500 new tokenized-stock holders over the same period, driven largely by xStocks and Backpack. Robinhood Chain followed with 83,200 new holders, while BNB Chain added 23,200.
At the issuer level, Robinhood led with 83,200 new holders, narrowly ahead of xStocks at 73,400 and Backpack at 44,100. This pattern indicates that Solana and Robinhood are attracting individual retail users, while Avalanche's growth reflects larger pools of capital.
Overall Market Structure
Looking at total tokenized-stocks market cap across blockchains, BNB Chain leads with approximately $1.1 billion, followed by Ethereum at $773 million, Solana at $723 million, and Avalanche at $428 million.
Trading Activity Accelerates
Decentralized exchange volume is scaling faster than market cap growth. Over the past 30 days, DEX platforms processed $20.9 billion in tokenized-stock trading volume. Uniswap v4 captured 40.7% of this volume, while Uniswap v3 accounted for 19.4%, with the two versions combined representing roughly $12.6 billion in trading activity.
While the $3.6 billion tokenized-stocks market remains small relative to global equities, the emerging split between institutional capital concentration, retail user adoption across different chains, and growing onchain trading volume suggests the market is developing into a segmented ecosystem rather than a unified one.
