Tokenized Stocks Generate $12.4 Billion in DEX Trading Volume in 30 Days

Tokenized stocks have surged in popularity, generating an impressive $12.4 billion in trading volume on decentralized exchanges (DEXs) over the last 30 days. BNB Chain has emerged as the frontrunner, accounting for approximately 32% of this total volume.

These tokenized stocks serve as on-chain representations of traditional equities and ETFs, allowing for trading on blockchain platforms rather than through conventional brokerage apps. Recent data indicates that monthly trading volumes for tokenized stocks have fluctuated between $12 billion and $20.9 billion, with a recorded volume of around $13.3 billion by late October 2026.

In the third quarter of 2026, the total trading volume for tokenized equities on DEXs reached between $24 billion and $25.6 billion, with peak daily volumes exceeding $500 million. This represents a staggering annual growth of over 10,000% compared to the previous year.

At the end of 2025, tokenized equities made up only 0.1% of total DEX spot volume, but by 2026, this share has increased to over 4%. Cumulative DEX spot volume for tokenized equities has now reached approximately $48.7 billion. A significant factor in this growth has been the launch of BNB Chain’s bStocks product on June 11, 2026, which has significantly boosted trading activity.

Uniswap dominates the market, capturing about 60% of the trading volume, with PancakeSwap and Raydium also playing major roles. The active market capitalization of tokenized equities is estimated to be between $3 billion and $4 billion, indicating a high turnover rate for these tokens.

While tokenized stocks have gained traction, they still represent a small portion of the overall DEX trading landscape, with the majority of trading activity remaining focused on crypto-native assets.

Latest Developments in Tokenized Stocks

• Tokenized stocks on Solana have surged 3.5 times since January 1, 2026.
• In September 2026, tokenized equity volume on Solana reached approximately $4.4 billion, marking a record monthly high.
• October 2026 saw a slight decrease in volume to roughly $3.9 billion.
• The value of tokenized equities on Solana hit $684 million in September 2026.
• The number of tokenized equity holders on Solana grew from around 300,000-400,000 in August to between 1 million and 1.5 million by mid-to-late October.
• In June 2026, a tokenized version of SpaceX (ticker SPCX) was launched, generating hundreds of millions in trading volume.
• The US SEC introduced an innovation exemption in September 2026, easing requirements for tokenized trading.
• Solana accounted for about 97% of tokenized equity trading across blockchains in mid-2026, although competition has increased since then.

Latest Developments in Tokenized Stocks

• As of November 2, 2026, 56 issuers have formally objected to OKXICE's tokenized stock offerings, a significant increase from the initial nine objections reported on October 15.
• The original proposal included 62 companies for tokenization, with 49 now having filed objections, representing approximately 79% of the list.
• Notable companies blocking their shares from being tokenized include Tesla, SpaceX, Amazon, Netflix, Lam Research, and SoFi Technologies.
• OKXICE is structured as a Texas-based LLC, jointly owned by Intercontinental Exchange and OKX, aiming to facilitate 24/7 trading of tokenized shares.
• The SEC's innovation exemption announced on September 17, 2026, allows certain venues to offer US tokenized stocks without full exchange registration, enabling the OKXICE platform to operate as it does.
• The objection process allows companies a 30-day window to refuse third-party tokenization of their stocks, while still permitting them to tokenize their own shares.

Recent Developments in Tokenized Stocks

• In the past week, tokenized stocks generated $2.7 billion in trading volume on decentralized exchanges (DEXs).
• Aero, formed from the merger of Aerodrome and Velodrome, captured 28.3% of the total DEX trading volume.
• Coinbase launched tokenized stocks on its Ethereum layer-2 network, Base, on August 24, 2026, allowing for 24/7 trading.
• In the 30 days ending around November 3, 2026, Aero handled approximately $2.5 billion in tokenized stock trades, contributing to a total of $12.4 billion in DEX volume for the category.
• The AERO token experienced gains of 11-20% in September, correlating with increased trading volume of tokenized stocks.
• Tokenized stocks provide crypto-native users access to popular equities like NVIDIA and Apple without leaving the on-chain ecosystem.
• Aero's 28.3% market share indicates a competitive landscape for tokenized stock trading, with rival venues gaining traction.