Tokenized Stock Market Surges 2900% in a Year, Exceeding $1 Billion

Ondo and xStocks capture over 80% of the emerging segment.

The volume of tokenized stocks on the blockchain has surpassed $1 billion. The RWA sector is rapidly expanding due to an influx of liquidity.

Two projects lead the segment: the Ondo platform controls about 58.74% of the segment, while xStocks holds 23.8%.

Foresight Ventures investment partner Alice Li explained the success of the leaders as being due to well-constructed architecture. These platforms initially focused on compliance with legal norms in various jurisdictions, stable liquidity, and seamless integration with DeFi protocols.

RWA.io co-founder Marco Widrich noted the rapid development pace of the niche: over the year, the capitalization of tokenized stocks soared by 2900%. The main growth drivers were the launch of major platforms, clear regulation, and product accessibility for retail investors.

Capital concentration is typical for the industry: according to DeFiLlama founder 0xngmi, in niches like stablecoins, derivatives, and decentralized exchanges, the majority of revenue also goes to the two leading protocols.

In many defi sectors almost all revenue is captured by the top 2 market participants, basically most crypto verticals are turning into duopolies

credit to @joeljohn (based on defillama data) pic.twitter.com/SEihYVEnfj

— 0xngmi (@0xngmi) March 6, 2026

Alongside stocks, the entire RWA sector is growing. The total value of tokenized assets, excluding stablecoins, has reached $26 billion, with $11.13 billion accounted for by U.S. Treasury bonds.

Trader activity is also increasing. Since the partnership between 1inch and Ondo began, the trading volume of tokenized stocks and ETFs through their joint integration has exceeded $2.5 billion.

In February, trading volumes of tokenized stocks on xStocks reached $25 billion.