The combined market capitalization of tokenized stocks has climbed to an all-time high of $3.9 billion, according to data from Token Terminal, an analytics platform that tracks on-chain financial activity. BNB Chain, Ethereum and Solana collectively account for approximately 70% of the market.

The milestone marks another step in the growth of a market that brings traditional financial assets onto blockchain networks, and it underscores increasing activity in blockchain-based stock investment products.

What Tokenized Stocks Are

Tokenized stocks are digital tokens designed to provide exposure to shares of publicly traded companies. Depending on how a product is structured, the token may represent ownership rights or simply track the value of an underlying stock. Unlike conventional shares traded through stock exchanges, these products rely on blockchain infrastructure to record ownership, process transfers and handle settlement.

The latest figures suggest that blockchain-based equity products are attracting growing market attention. The $3.9 billion valuation, however, represents the reported size of the tokenized stock market alone — not the total value of traditional stocks worldwide.

BNB Chain, Ethereum and Solana Hold 70% Market Share

The tokenized stock market cap is heavily concentrated across three major blockchain networks. According to Token Terminal BNB Chain, Ethereum and Solana together account for roughly 70% of the market.

Based on the reported $3.9 billion total, that combined share translates to approximately $2.73 billion in tokenized stock market value. The remaining 30% — equivalent to about $1.17 billion — is distributed across other networks.

The concentration highlights the central role these three ecosystems play in supporting blockchain-based financial products. Each network offers infrastructure for issuing, transferring and interacting with digital assets through blockchain applications. With roughly seven of every ten dollars in this market concentrated on just three networks, shifts in tokenized-stock activity there can move the sector's headline totals on their own. The figures do not, however, establish which of the three networks holds the largest individual share.

BIG: Tokenized stock market cap hits a record $3.9B, with BNB Chain, Ethereum, and Solana holding about 70% of the market, per Token Terminal. pic.twitter.com/gHfLC0h5RC

— Cointelegraph (@Cointelegraph) October 12, 2026

Why the Tokenized Stock Market Cap Matters

The record valuation reflects the broader trend of moving traditional financial instruments onto blockchain networks — a process often described in the industry as bringing real-world assets on-chain. Tokenization can potentially make certain assets easier to transfer and to integrate with digital financial services. It may also support new ways of accessing financial markets, depending on a product's design and the regulations governing its distribution.

Tokenized stocks are not necessarily identical to traditional shares, however. Investor rights, dividend eligibility, redemption arrangements and trading restrictions can vary significantly between products — differences that matter for anyone considering exposure to blockchain-based equities.

The growth in tokenized stock market capitalization also illustrates the expanding intersection between decentralized technology and conventional finance. With the market at $3.9 billion and BNB Chain, Ethereum and Solana representing about 70% of its value, Token Terminal's data points to rising activity in this emerging sector.

Whether the market continues to set records will depend on investor demand, product development and regulatory conditions. Indicators worth watching going forward include the market's total size, how market share shifts among competing networks, and how regulatory conditions evolve for tokenized securities.