Crypto: Tokenized Stocks Approach $3 Billion Weekly

Tokenized stocks approached $3 billion in weekly spot volume at the beginning of August. In its analysis published on September 3, Grayscale ranks Robinhood Chain, BNB Chain, and Solana among the leading networks in this new segment of the crypto market. Liquidity is progressing rapidly. However, the use of these assets in on-chain finance remains limited to about 5% of the market.

In brief

• The weekly volume of tokenized stocks peaked near $3 billion.
• Robinhood Chain, BNB Chain, and Solana account for a large portion of trading.
• Only about 5% of tokenized stocks are used in on-chain finance.

The figure comes from Grayscale: the weekly spot volume of tokenized stocks reached nearly $3 billion at the beginning of August. This growth further establishes these products in the crypto landscape, following several months of rising volumes on major blockchains.

BNB Chain had already surpassed $5.2 billion in cumulative volume for tokenized stocks by the end of June. More than 700 stocks and ETFs were then available in its ecosystem.

Solana is also advancing quickly. In the second quarter, the network recorded $5.77 billion in volume for tokenized assets, which is 114% more than the previous quarter. Stocks alone accounted for $4.8 billion, compared to $1.1 billion in the first quarter.

Robinhood Chain now completes the top trio. Launched on mainnet on July 1, the network directly benefits from the broker's activity and its offering of tokenized stocks.

The crypto market is no longer limited to tokenizing dollars or bonds. Apple, Nvidia, and other traditional stocks now circulate on the same infrastructures as stablecoins and DeFi assets.

The nearly $3 billion hides a significant gap, however. Grayscale estimates that only about 5% of the tokenized stock market is currently deployed in financial on-chain applications. Their locked value exceeds $110 million.

For now, these products mainly serve to be traded. Their use as collateral or in lending protocols remains much smaller. On Solana, Grayscale notes that tokenized stocks placed in platforms like Kamino and Jupiter have increased about tenfold in a year.

This is an important point for measuring the real development of this branch of crypto finance. A high trading volume shows that liquidity exists. It does not yet mean that these assets are widely integrated into DeFi.

Another figure gives an idea of current activity. The seven most traded tokenized stocks generated $4.3 billion in DEX volume over 30 days, according to data from Token Terminal cited by Grayscale. Three of them are available on Robinhood Chain.

This progression comes a few weeks after a daily record exceeding $565 million on DEX, recorded at the end of June. The periods and scopes differ, but both data points tell the same story of accelerating trading on the blockchain.

Robinhood started in 2025 with over 200 tokenized stocks and ETFs aimed at eligible European clients. These products were initially issued on Arbitrum. Since July, the broker has its own infrastructure. Robinhood Chain is an Ethereum layer 2 designed especially for tokenized assets, continuous transfers, and decentralized finance.

For European users, one nuance remains essential: a tokenized stock does not automatically grant the same rights as a stock held directly with a traditional broker. Depending on the structure chosen by the issuer, the token may represent a security, a claim on shares held by a custodian, or another contractual right.

The U.S. SEC is also working on these issues. Its Investor Advisory Committee estimated in March that tokenization could allow for the transfer of a security and its payment in a single transaction, while calling for more clarity on ownership and investor protection.

For the crypto market, volumes are no longer the only indicator to follow. Tokenized stocks have found liquidity. Their next step will be to transform this trading activity into broader financial uses.

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