Tokenized stocks’ share of total RWA market cap rises to over 15%

Tokenized equities have experienced explosive growth, surging from approximately $2 million in June 2025 to between $2 billion and $2.5 billion by mid-July 2026. This rapid expansion, tracked by rwa.xyz, saw the category's share of the total RWA market climb significantly over the past year. Major institutional milestones, including Nasdaq's March 2026 rule approvals and the Depository Trust & Clearing Corporation's (DTCC) limited production trades, have provided the regulatory clarity necessary for this growth. Platforms like Kraken with xStocks and Binance with bStocks have introduced synthetic price exposure to assets like Tesla and NVIDIA on blockchains including Ethereum and Solana. Despite reaching 1.18 million holders by August 2026, the market faces structural challenges regarding thin secondary liquidity and concentration in popular assets. The industry is now shifting focus toward deepening liquidity, enhancing market-maker relationships, and developing cross-chain bridges. Ultimately, the integration of native institutional settlement infrastructure remains the critical catalyst for the next phase of market maturity.