The total value of tokenized equities held on blockchain networks has surpassed $1 billion for the first time, according to data from RWA(dot)xyz. The milestone reflects growing demand from investors seeking blockchain-based access to traditional stock markets.
Ondo Finance is leading the charge, accounting for roughly 58% of the total value. Products issued under the xStocks platform hold approximately 24%. Together, the two providers control the majority of the market.
Regulatory barriers and differing tokenization models are among the factors contributing to consolidation around early leaders in the sector, according to a report by Foresight Ventures. Alice Li, an investment partner at Foresight Ventures, noted that a competitive platform must manage liquidity infrastructure, multi-jurisdiction legal rights, and DeFi composability simultaneously.
The tokenized real-world asset market, excluding stablecoins, has reached roughly $26 billion in total value. The tokenized U.S. Treasury segment alone surpassed $10.8 billion in market capitalization on February 26 and stood at $11.13 billion at the time of reporting.