Assets under management (AUM) in the global tokenized stock market reached an all-time high of $4.8 billion, up 164% between June and early November 2026.
The tokenized stock market grew more than 2.5-fold in 5 months, according to Binance. The largest issuer was bStocks, whose AUM topped $1.5 billion. The market also grew without bStocks: excluding it, AUM rose 81% from June to early November.
bStocks is a tokenized securities platform integrated with the Binance crypto exchange. It issues digital instruments tied to the value of U.S. company shares and exchange-traded funds (ETFs). The tokens are backed 1:1 by real securities held by a regulated custodian. However, holding the tokens doesn’t give investors direct ownership of the underlying shares.
According to Binance Research, net inflows accounted for about 68% of the growth in bStocks’ asset value, while the rest came from market price changes and other factors. The analysts also pointed to a significant expansion in the range of tokenized instruments, from 6 at launch to nearly 100 by October. As a result, the share of the top 5 assets in total value fell from about 97% to less than 50%.
The study found substantial differences in behavior across age groups:
- Gen Z users make up 46% of bStocks’ customer base but account for only 8% of trading volume
- Millennials represent 37% of users and generate 78% of trading volume
- Gen Z users close about 74% of their positions in less than a week
- Among millennials, 40% of positions are held for at least 7 days, and 13% stay open for more than 90 days
A large share of demand for tokenized stocks comes from outside developed economies. According to Binance Research, users in developing countries and emerging markets have generated about 70% of bStocks’ trading volume since launch. The analysts link this to the chance to access instruments tied to U.S. stocks in regions where traditional brokerage services are limited.
The market also stands out for heavy trading outside regular U.S. exchange hours. About 56% of bStocks’ trading volume takes place when U.S. stock exchanges are closed, including:
- 49% on weekdays before the open and after the close
- 7% on weekends
CoinGecko data show that tokenized stock trading volume reached $15.1 billion in the first quarter of 2026, less than 1% of traditional stock market turnover. Citi Institute’s base-case forecast puts the market capitalization of tokenized public equities at about $3.6 trillion by 2030, with $2.6 trillion of that potentially coming from the U.S. market.
