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BNB 
ETH 
SOL The number of tokenized stock holders doubled in August, with the BNB chain and Robinhood chain leading the way.
According to Token Terminal data, the total number of tokenized stock holders rose sharply in August, with 928,400 new holders added throughout the month. This number is up 120% from July (approximately 771,000 holders). The number of new holders in August exceeded the total of all previous months, setting a new record in the field.
The strongest growth momentum so far
Since Token Terminal began tracking this indicator, it contributed approximately 55% of the increase in tokenized stock holders in August. The number of new holders that month was 3.4 times the previous monthly record set in July (approximately 272,000 new holders).
Although the 120% growth rate is significant, there have been higher percentage increases in previous months, such as the jump from 20,300 holders to 73,300 in July, an increase of 261%. In contrast, the growth base in August was even larger, involving nearly 1 million wallets.
BNB chain and Robinhood chain dominate the network
BNB chain led the tokenized stock network with 730,000 holders in August, followed by Robinhood chain with 518,800 holders. Chains other than the two header networks hold a total of 462,700 users, including 335,000 for the Solana chain, 61,000 for the Base chain, and 56,600 for the Ethereum chain. Other networks such as Arbitrum One, Ink, OP Mainnet and Polygon contributed smaller but equally noteworthy data.
Network·Number of Owners in August
BNB Chain· 730,000
Robinhood Chain· 518,800
Solana · 335,000
Base · 61,000
Ethereum· 56,600
In terms of publishers, Robinhood topped the list at the end of the month. Binance's bStocks performed equally well, with the holder base increasing from 52,900 in July to 464,700 in August, ranking second, surpassing xStocks.
Two drivers: fee discounts and new token launches
The rapid growth in August was mainly due to two factors. Binance canceled market maker fees for all bStocks trading pairs starting that month and expanded its online activities. Robinhood Crypto announced on August 13 that it would add 100 new stock tokens to the Robinhood chain, bringing the total to more than 190. The release comes in the first full month after the chain's main online launch, attracting the participation of 28 million brokerage accounts under Robinhood.
Robinhood Crypto emphasized that with more than 100 new stock tokens launched, users will gain broader access to tokenized stocks in the chain ecosystem and be supported by millions of brokerage customers.
Wallet count versus real user base
Industry analysts pointed out that the report data is based on the number of wallets, not individual individuals. Fee discounts and frequent launches of new tokens often encourage users to create multiple wallets, resulting in inflated headline statistics.
Analysis of asset-level data shows that popular tokens are highly concentrated. SPCXb topped the list in August with 165,800 holders, while NVDax and Qb reached 66,500 and 65,400 holders respectively. Tokens outside the top ten collectively constitute the "Other" category, with 1.1 million holders, indicating that most wallet growth is concentrated on a few assets.
September Outlook and Sustainability
On August 28, Binance extended its zero-market-maker fee activities to September 30 and enabled spot grids, fixed investment and rebalancing robots for approximately 70 bStocks trading pairs. These features introduce additional incentives and distribution channels for tokenized stocks.
Analysts believe that October will more clearly reflect user retention, as the sustainability of August growth remains in doubt once fee discounts end and normal transaction rates are restored.
The real challenge will come after incentives end, when activity data will better reflect real user needs rather than activity-driven engagement.
