BNB Chain Becomes First Blockchain to Top $1 Billion in Tokenized Stocks and ETFs
Key Takeaways
- •BNB Chain became the first blockchain to surpass $1 billion in tokenized stocks and ETFs, with a market capitalization of $1.1 billion accounting for roughly 30% of the sector.
- •The network leads in adoption with 1.8 million addresses holding tokenized stocks, representing 45% of all holders, according to a Binance Research report published Tuesday.
- •The overall tokenized equities market rose about 17% month over month in September to $3.35 billion, an increase of roughly $480 million from August.
- •BNB Chain's market share has climbed from 13% in January, when the sector stood at $719 million, while Ethereum's portion fell from nearly 48% to 22%.
- •A recent Dune report found that tokenized assets do not always track traditional market movements, keeping attention on how closely on-chain equity products mirror the assets they represent.
BNB Chain has become the first blockchain to surpass $1 billion in tokenized stocks and exchange-traded funds (ETFs), as the broader market for tokenized equities climbed to $3.7 billion.
Tokenized stocks are blockchain-based representations of traditional equities or ETF exposure, giving users on-chain access to instruments that have historically traded through conventional brokerages and clearing systems.
According to data from on-chain analytics platform Token Terminal, the sector's market capitalization on BNB Chain stood at $1.1 billion at the time of publication, representing roughly 30% of the total market. Ethereum ranked second at $828 million, or 22%, followed by Solana at $738 million, or 20%. The overall market rose around 17% month over month to $3.35 billion in September from $2.87 billion in August — an increase of roughly $480 million — the same dataset showed.
BNB Chain, the layer-1 blockchain associated with crypto exchange Binance, also led in adoption. The network counted 1.8 million addresses holding tokenized stocks, accounting for 45% of the total, Binance Research said in a report published Tuesday. That makes BNB Chain the sector's largest network by both value held and number of holders. The chain hosts products including Binance bStocks, the exchange's tokenized stock offering, and Ondo Global Markets, a platform providing on-chain access to tokenized US stocks and ETFs.
The sector has grown more than fivefold since January, when the market stood at $719 million. At that point, Ethereum accounted for about 48% of the market, Solana 31% and BNB Chain just 13%, according to Token Terminal. The figures indicate a marked shift in market share toward BNB Chain over the course of the year. A network that entered January as the smallest of the three largest now leads the sector, while Ethereum's share has fallen from nearly half the market to 22%.
The milestone follows a Dune report finding that tokenized assets do not always mirror movements in traditional markets. That finding keeps a central question in focus as the sector expands: how closely on-chain equity products track the traditional assets they represent.
