BNB Chain claims to have a 42.59% stake in the tokenized stock market, with an on-chain asset size of $1.47 billion, which exceeds the combined holdings of Ethereum and Solana.
According to BNB Chain, within the past 30 days, its share in the tokenized stock market has risen from 35.55% to 42.59%.
It is alleged that the network holds $1.47 billion in tokenized stocks, which exceeds the combined $1.22 billion of Ethereum and Solana.
Four months after the launch of the bStocks platform, which is part of Binance, the managed asset scale exceeded 1 billion US dollars in June.
Different market tracking agencies have inconsistent statistics on tokenized stocks, therefore the exact market share of BNB Chain has not yet been independently confirmed.
According to the data shared by MSB Intel, BNB Chain's market share has increased from 35.55% to 42.59% in the past 30 days, representing a rise of 7.04 percentage points. Ethereum's tokenized equity assets amount to 730.43 million US dollars, while Solana's are 489.72 million US dollars.
These two networks collectively hold $1.22 billion in tokenized stocks, which is about $250 million less than the holdings reported by BNB Chain.
BNB Chain shared these data on X on October 19th and cited the market data from MSB Intel. The relevant figures have not yet been independently verified against the equivalent data from RWA.xyz or other market tracking institutions.
Based on these reported figures, the total size of the tokenized stock market is approximately $3.45 billion, with BNB Chain accounting for more than two-fifths of the outstanding value.
As bStocks expands, the market share of BNB Chain tokenized stocks rises.
The bStocks platform under Binance has become one of the largest tokenized equity products on BNB Chain. Four months after its launch on June 11th, it managed assets worth over 1 billion US dollars.
In its announcement on October 15th, Binance stated that bStocks achieved this milestone after going live on June 11, 2026.
The exchange stated that the cumulative trading volume has exceeded $40 billion, with nearly 100 types of tokenized securities listed, and the conversion scale between tokenized assets and their underlying securities has reached $6 billion.
Binance indicates that these data are based on the Dune Research data as of October 15th. The company describes bStocks as a tokenization representation of U.S. securities, which is supported by the underlying assets at a 1:1 ratio.
The platform allows eligible customers to convert their supported stock positions into tokens for 24/7 trading, and then transfer them to compatible blockchain wallets.
As previously reported by crypto.news, the exchange has launched a conversion service that allows eligible customers to convert between their supported stock holdings and the corresponding bStocks without incurring any conversion fees.
Customers must hold a qualified stock account in order to convert tokens back into the underlying securities. The service related to Binance is not available to individuals from the United States and operates within the framework of the approved prospectus for the Abu Dhabi Global Market.
The exchange has also expanded the use of these products beyond spot trading to more scenarios. In October, Binance will add the tokenized securities of JPMorgan Chase, Eli Lilly, Securitize, and StablecoinX to its list of eligible margin collateral assets.
Tokens that meet the requirements can be used for Cross Margin, Portfolio Margin, and Portfolio Margin Pro accounts, but they must comply with the exchange's requirements.
Before the release of the latest market share data, BNB Chain had previously reported significant activity in the tokenized equity sector.
In June of this year, the network stated that there were over 709 tokenized stocks and exchange-traded funds available within its ecosystem, with a cumulative trading volume of over $5 billion and a market value exceeding $1 billion.
Its tokenization infrastructure includes decentralized trading platforms and lending protocols such as PancakeSwap, Venus, and Lista DAO.
The latest market share announcement from BNB Chain does not provide breakdown data at the issuer level, indicating how much of the growth over the past 30 days came from newly issued bStocks, existing tokenized securities, or other products.
The outstanding assets in the tokenized equity market have reached several billion dollars.
Recent industry reports estimate the tokenized equity market size to be between approximately 3 billion and 4 billion US dollars, although the exact figures can vary depending on the assets and platforms included.
In an industry report released on October 16th, DWF Labs valued the market at $3.8 billion, which is approximately six times its value at the beginning of January this year.
The report shows that as of the week ending October 5th, the weekly trading volume of decentralized exchanges reached $2.54 billion, whereas in the first week of this year it was only $45.8 million.
Research indicates that trading activity is still below the weekly peak of $7.26 billion set in late August.
DWF Labs lists Ondo Finance as the largest tokenized equity issuer, while the outstanding value of bStocks for xStocks and Binance during the reporting period is close to $1 billion each.
Research estimates that as of October 15, $313 million in tokenized equity has been deployed into decentralized finance protocols.
Another set of data compiled by Castle Labs based on CoinGecko shows that as of October 18, the tokenized stock market size was $2.47 billion, covering 250 tracked assets.
The issuer data indicates that bStocks is valued at approximately $1.02 billion, xStocks at $837.2 million, and Ondo Global Markets at $822.6 million.
The tracking agency reminded that there may be overlaps in the categories of issuers, and that their coverage and classification methods differ from those of other market data providers.
Neither of these two sets of data can directly confirm the estimate of MSB Intel holding a 42.59% share of BNB Chain. The relevant figures cover different market segments, and the total amount held by the issuers cannot be equated with the holdings at the blockchain level.
Ethereum and Solana remain important networks for tokenized stocks.
Ethereum and Solana still host tokenized equity products issued by Ondo Finance, Backed Finance, and other fintech companies.
The xStocks platform of Backed has been extended to multiple blockchain networks, with products linked to listed companies and exchange-traded funds.
In March this year, xStocks, which is supported by Kraken, launched the xChange platform. This is a blockchain-based transaction engine designed to support tokenized equity transactions on Ethereum and Solana.
When the platform was launched, it supported over 70 types of tokenized assets, and reported on-chain transaction volume of 3.5 billion US dollars, with a total transaction volume of 25 billion US dollars.
Ondo Finance promotes another distribution strategy through integration with wallets, exchanges, and blockchain networks.
In June this year, Exodus Movement collaborated with Ondo Finance to launch trading services for over 200 tokenized stocks, ETF, and other real-world assets through their wallet applications.
This service allows eligible users located in supported jurisdictions to access tokenized securities on Solana, which includes products linked to Exodus stocks.
Robinhood is advancing the distribution of tokenized stocks through its European operations, while issuers on Ethereum and Solana are also continuing to develop blockchain-based stock trading products.
Earlier industry data also showed a discrepancy between the number of token holders and the value of the issued securities.
In July this year, data shared by DWF Labs on tokenized equity showed that there were approximately 752,000 holders across five major platforms, representing a 92% increase from 30 days prior.
Among them, Robinhood accounts for approximately 328,000 holders, which is 44% of the total tracked number, but they hold tokenized assets worth about 44 million US dollars.
Calculated by asset value, Ondo ranks first with an asset scale of 857 million US dollars, followed by xStocks with 487 million US dollars and Securitize with 245 million US dollars.
Binance Expands Tokenized Stocks to Collateral and Decentralized Finance
Since the launch of bStocks in June, Binance has been continuously developing services surrounding tokenized securities.
An announcement on October 15 by the exchange stated that eligible retail traders could use the supported bStocks as margin and futures collateral, allowing these assets to serve both as trading positions and collateral within the supported accounts.
The company stated that, under applicable conditions, traders can borrow valued assets using supported tokenized securities, with a leverage of up to 5 times.
BNB Chain also promotes the construction of trading infrastructure through a tokenized stock hackathon jointly organized with Binance Web3 Wallet.
The project was opened on September 16th and submissions closed on October 11th, offering a prize pool of $20,000 for developers building applications around tokenized equity.
According to the official schedule, the review will take place from October 12th to October 23rd, and the winners are scheduled to be announced during the week of October 26th.
The project covers applications such as market data, tokenized stock trading, portfolio management, and automated blockchain trading.
