September 3, 2026
Tokenized equity trading reached new highs in August, with weekly spot volume peaking near $3 billion early in the month.1 Robinhood Chain, BNB Chain, and Solana were the leading networks for tokenized equity trading last week, together accounting for the majority of total volume.
But trading activity has outpaced onchain financial utility. Only about 5% of the tokenized equity market is currently deployed in onchain finance, suggesting that investors currently value continuous trading and global access more than employing tokenized stocks for lending, collateral, and other financial uses. Still, utility is emerging: tokenized equities in lending protocols such as Kamino and Jupiter have grown about tenfold over the past year.
Regulatory clarity could support the next phase. US regulators have discussed an innovation exemption with safeguards (e.g., verified participants and compliance-enabled token standards)2 and noted that tokenization could make securities easier to use as collateral.3 Regulatory changes could also let the equity and payment settle in one transaction, reducing the risk that either party fails to deliver.4 Together, these changes could broaden what tokenized stocks offer, helping them evolve from trading products into productive onchain assets.
Key Takeaway: Tokenized equities are scaling first as a global trading product. A growing capital base and possible US regulatory experimentation could support their transition from access to financial utility.
Exhibit 1: Onchain use of tokenized equities is small but growing quickly
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