Tokenized stock holders more than doubled over the past month to 1.31 million. Monthly transfer volume climbed 179% to $23.13 billion. The figures come from RWA.xyz data reported by Cointelegraph.
Cryptonomist independently corroborated the numbers on August 15. They point to a sharp acceleration in a segment of crypto that barely registered a year ago. RWA.xyz’s broader tokenized stock category sat near $80 million 12 months back. Token Terminal now puts it around $2.7 billion, a roughly 30-fold climb. Monthly transfer volume hit $23.13 billion, up nearly 180%.
Monthly active addresses rose 34.62% to nearly 572,000. Total distributed value of tokenized stocks gained 5.9% to $2.38 billion. All numbers trace to RWA.xyz, the canonical dashboard for on-chain real-world asset tracking.
Three platforms dominate the distributed-value rankings. Ondo leads at roughly $872 million. Kraken’s xStocks sits at $557.8 million. Binance’s bStocks, which launched in June, has already reached $521.8 million and sits within about $36 million of xStocks. Token Terminal data reported by crypto.news puts bStocks narrowly ahead of xStocks, $610.6 million versus $601.2 million, though Ondo remains the largest provider overall.
Among individual tokenized assets, Securitize tops the list at $145.2 million in distributed value. Strategy PP Variable xStock follows at $135.6 million. Ondo’s tokenized Circle shares hold $99.7 million. Tokenized SpaceX exposure via Binance’s bStocks ranks seventh at $67.9 million, tracked since the June 12 listing.
The SpaceX episode laid bare both the momentum and the limits. Ahead of the June 12 public debut, Binance, Coinbase, Kraken, Bybit, Bitget and Blockchain.com all pushed products tied to SpaceX. Those ranged from tokenized pre-IPO exposure to perpetuals. A Binance campaign drew $557 million in commitments. Then xStocks couldn’t secure enough underlying shares to meet demand. Binance, Bybit and Bitget Wallet canceled their tokenized SpaceX campaigns and issued refunds. The launch happened anyway. The tokenized wrappers didn’t.
Binance co-founder Changpeng Zhao has credited bStocks’ rapid climb to the exchange’s existing user base, which gave the product instant reach at launch. Ondo’s own platform reports $1.01 billion in total value locked, 200,645 holders across its full suite, and $27 billion in cumulative trading volume since the September 2025 launch of its Ondo Stocks product.
Standard Chartered forecasts real-world asset tokenization could become a $4 trillion market by end of 2028. That projection assumes sustained institutional uptake. It is not an enacted figure. The bank is not a neutral observer. It operates a tokenization platform and digital asset custody business.
Holders, as ever, are divided on what the numbers mean. Wallet counts can double without a proportional shift in capital. The 1.31 million figure likely counts unique wallets, not individuals. RWA.xyz does not publish its methodology for separating both. A holder who spun up a fresh wallet for an airdrop counts twice. Whether the past month’s surge reflects organic demand or a single platform’s June launch spreading across chains is not yet clear from the data.
