Cryptocurrency: Weekly trading volume in tokenized stocks approaches $3 billion

Weekly spot trading volume of tokenized stocks approaches US$3 billion

In early August, weekly spot trading volume of tokenized stocks approached US$3 billion. In an analysis report released on September 3, Grayscale pointed out that Robinhood Chain, BNB Chain and Solana have become the main networks in this emerging crypto market segment. Although liquidity is growing rapidly, the use of these assets in Onchain Finance is still limited to about 5% of the market total.

Summary of Core Points

• The peak weekly trading volume of tokenized stocks is close to US$3 billion.
• Robinhood Chain, BNB Chain and Solana accounted for the majority of transactions.
• Only about 5% of tokenized stocks are used in on-chain financial scenarios.

Market Size and Major Network Performance

The above data comes from Grayscale's analysis: As of early August, the weekly spot trading volume of tokenized stocks has reached nearly US$3 billion. After months of continuous growth in transaction volume on the Dagong Chain, these products have further established their position in the cryptocurrency landscape.

As early as the end of June, BNB Chain's cumulative trading volume in tokenized stocks exceeded US$5.2 billion, and its ecosystem could provide more than 700 stocks and ETF products at that time. Solana's development momentum is also rapid. In the second quarter, the network's trading volume on tokenized assets reached US$5.77 billion, a month-on-month increase of 114%; among them, stocks alone contributed US$4.8 billion in trading volume, compared with only US$1.1 billion in the first quarter.

Robinhood Chain completed the top three seats. The network was officially launched on its main network on July 1, directly benefiting from the activities of brokers and the tokenized stock services they provide. At this point, the crypto market is no longer just tokenizing U.S. dollars or bonds. Traditional securities such as Apple and Nvidia are now circulating on the same infrastructure as stablecoins and DeFi assets.

High trading activity, but low financial application penetration

There is a significant gap hidden behind nearly US$3 billion in trading volume. Grayscale estimates that only about 5% of tokenized stock market stock is currently deployed in on-chain financial applications, with a lock-in value of more than $110 million. Currently, these products are mainly used for transactions, and the scale of application as collateral or in loan agreements is still small. However, Grayscale pointed out that on the Solana network, the number of tokenized shares placed on platforms such as Kamino and Jupiter has increased about tenfold in the past year.

This is an important indicator to measure the true development of this crypto-finance branch. High trading volumes indicate that liquidity already exists, but it does not mean that these assets have been widely integrated into the decentralized finance (DeFi) system. Another piece of data reflects current activity: According to data cited by Token Terminal and cited by Grayscale, the seven most active tokenized stocks generated up to $4.3 billion in transactions on decentralized exchanges (DEX) in the past 30 days, three of which are available on Robinhood Chain.

The increase comes just weeks after DEX single-day trading volume reached a record of more than $565 million at the end of June. Although the statistical periods and scope vary, both sets of data tell the same story: blockchain transactions are accelerating.

Robinhood pushes the crypto market closer to traditional financial markets

When Robinhood was launched in 2025, it offered more than 200 tokenized stocks and ETF products for qualified European customers. These products were originally released on the Arbitrum network. Since July, the broker has had its own infrastructure-Robinhood Chain. This is an Ethereum Layer 2 network specifically designed for tokenized assets, continuous transfers and decentralized finance.

For European users, a crucial difference remains: tokenized shares do not automatically grant the same rights as traditional brokers directly holding shares. Depending on the structure chosen by the issuer, tokens may represent securities interests, claims on shares held by the custodian, or other contractual rights.

The U.S. Securities and Exchange Commission (SEC) is also handling related issues. Its Investor Advisory Council said in March that tokenization technology is expected to allow securities transfers and payment settlements to be completed in the same transaction, but also requires clearer definitions of ownership and investor protection issues.

For the crypto market, trading volume is no longer the only indicator of observation. Tokenized stocks have found liquidity, and the key to their next step is to transform this trading activity into broader financial uses.