According to CoinMeta, Wu said that Zach Pandl, the head of research at Grayscale, stated that the trading volume of tokenized stocks reached a new high in August, with the weekly spot trading volume approaching $3 billion at the beginning of the month. Robinhood Chain, BNB Chain, and Solana were the main trading networks. Currently, only about 5% of tokenized stocks are used in on-chain financial scenarios, indicating that market demand is still mainly focused on 24/7 trading and global accessibility, while the proportion of uses such as lending and collateral is relatively low. The scale of tokenized stocks in protocols such as Kamino and Jupiter has grown by about ten times over the past year. Grayscale believes that if U.S. regulations become clearer and allow for compliant token standards, controlled participants, and simultaneous settlement of securities and payments, tokenized stocks could gradually evolve from trading tools to on-chain financial assets that can be used for collateral and lending.