The number of wallets holding tokenized stock — blockchain-based representations of traditional equity that allow 24/7 trading and fractional ownership — continues to accelerate. Eight days ago, the figure stood at 766,366. According to the latest data from RWA.xyz, that number has now reached 1,020,510 — a 33% increase in just over a week. Viewed over a full year, the growth is even more pronounced: twelve months ago, total tokenized stock holders were just 58,999, representing a 17.3x increase to the current level. No other category within the real-world asset (RWA) space is expanding at a comparable pace.

Source: RWA.xyz

Tokenized Equities Now Dominate the RWA Holder Base

There are currently 1.62 million RWA holders onchain. Of that total, 62.8% fall under the tokenized equities category. In August of the prior year, that share was only 13.1%. Commodities represent the second-largest category with 256,264 holders — approximately one quarter of the stock holder count — after growing 130% year over year.

The overall RWA holder base grew from 449,297 to 1,622,570 over the past year, adding roughly 1.17 million wallets. Tokenized stocks account for approximately 960,000 of those new wallets. The shift reflects a broader trend in which tokenized financial instruments have gained traction alongside institutional pushes into blockchain-based markets, including BlackRock's BUIDL tokenized fund launch on Ethereum earlier in 2024.

bStocks Drives the Latest Wave of Growth

A previous report highlighted how tokenized stocks on the newly launched Robinhood chain contributed significantly to holder growth. Since readings from July 28 onward, however, Robinhood's tokenized stock product holders increased only by low single digits while the overall count rose by a third, indicating the newest wave of holders originated elsewhere.

That growth came primarily from bStocks, Binance's tokenized securities arm. Launched on June 11, bStocks is operated by BTech Holdings under a license from the Abu Dhabi Global Market, one of several jurisdictions that have established regulatory frameworks for digital asset issuance.

The largest tokenized stock onchain is currently SpaceX on bStocks, with approximately 107,000 holders. SpaceX is a privately held company whose shares are not publicly traded, making tokenized access notable for retail participants who otherwise lack entry to private equity markets. The next largest are NVIDIA xStock at 64,000 holders and the NVIDIA Robinhood Token at 33,000. Even combined, the two NVIDIA tokens trail SpaceX on bStocks in total holder count.

Platform Value Shifts Alongside Holder Growth

bStocks' total value climbed 93.25% over the trailing 30 days to $559.2 million, surpassing xStocks at $540.8 million and claiming second place with a 24.18% market share. This was achieved with 67 listed assets, compared to 642 on xStocks.

Ondo continues to lead in total value at $854.1 million and a 36.93% share, though its 30-day change was just 0.40% and its market share is declining as the broader field expands. Robinhood's tokenized stock value stands at $27.1 million, up 125.2% over 30 days, representing 1.17% of the market across 94 assets.

Average Position Size Remains Modest

Distributed tokenized stock value across the top ten platforms totals approximately $2.3 billion. Divided across 1.02 million holders, this works out to roughly $2,250 per wallet. The growth is being driven by wallets opening positions of a few hundred dollars rather than by institutional desks taking large positions, suggesting that the current expansion is predominantly retail-led. Holder counts and total value have been climbing on divergent curves since July, and whether these two metrics converge — which could indicate maturing adoption or institutional entry — remains the key data point to monitor heading into the fourth quarter.