Tokenized Stocks Reach $3.8B as Solana Holds Nearly a Fifth of the Market

Tokenized stocks now represent a $3.8 billion market, marking the sector’s highest-ever combined market capitalization and placing it just below the $4 billion threshold. BNB Chain, Ethereum, and Solana lead the market as adoption expands across crypto-native trading and decentralized finance.

Solana’s Position in the Market

The market crossed $3 billion for the first time in early September 2026, reaching approximately $3.1 billion before continuing its rapid climb. Solana is now estimated to hold between $680 million and $740 million in tokenized stocks and exchange-traded funds, representing roughly 20% to 23% of the sector.

That places the network close behind Ethereum, whose tokenized-equity market is estimated at $750 million to $830 million, or 22% to 25%. BNB Chain remains the largest network, with approximately $1 billion to $1.1 billion, equivalent to 30% to 34% of the total market.

• BNB Chain: approximately $1.0B–$1.1B, or 30%–34%
• Ethereum: approximately $750M–$830M, or 22%–25%
• Solana: approximately $680M–$740M, or 20%–23%

BNB Chain was the first blockchain to surpass $1 billion in combined tokenized stocks and ETFs. Its lead is closely connected to Binance’s distribution through bStocks and its existing exchange user base, while Solana and Ethereum are competing through broader DeFi ecosystems and a wider range of independent issuers.

Participation and Trading Accelerate

The expansion is not limited to market capitalization. Holder addresses have climbed to approximately 4.1 million, increasing by more than 60% in the last 30 days. That growth suggests the market is attracting a broader user base rather than relying solely on a small number of institutional deposits or issuer allocations.

Trading activity has also increased. Decentralized-exchange volume for tokenized stocks reached $3.96 billion during one notable weekend period, while total value locked in DeFi protocols connected to tokenized equities has risen into the hundreds of millions of dollars.

Individual products are contributing materially to the expansion. Securitize’s SECZ product has attracted more than $430 million since July, making it one of the market’s standout offerings.

What This Means

The growth gives Solana a meaningful position in an emerging market that combines securities with crypto infrastructure. Its roughly one-fifth share places it within striking distance of Ethereum, but continued progress will depend on issuer diversity, liquidity, and the ability of Solana-based venues to support compliant trading and DeFi integrations.

Regulation remains the key variable. Discussions involving the CFTC and the SEC’s innovation sandbox have coincided with the sector’s expansion, but tokenized stocks still sit at the intersection of securities law and blockchain technology. Traditional exchanges entering the market could bring greater clarity, trust, and distribution, potentially reshaping the current advantage held by crypto-native issuers.