Tokenized stocks are approaching the billion-dollar mark, highlighting how real-world asset (RWA) tokenization is moving beyond pilot projects and entering a rapidly developing segment of crypto market infrastructure.
A new report from Sentora and DL Research found that tokenized stocks reached a market value of approximately $963 million in January 2026, representing a year-over-year increase of almost 2,878%, up from just $32 million a year earlier.
This increase reflects the growing demand for blockchain-based access to traditional financial assets, as companies increasingly explore tokenization as a way to improve settlement efficiency, expand market access, and create always-on financial products. Tokenized stocks, in particular, have become one of the most visible examples of RWA expanding beyond private credit and Treasuries to become more mainstream instruments.
The market nevertheless remains very concentrated. The report shows that Ondo Global Markets holds the largest share, accounting for more than half of the value of tokenized stocks, with xStocks and Securitize accounting for most of the rest.
The dominance of a few issuers highlights both the early nature of the sector and the importance of regulated emission frameworks.
Much of this momentum has been driven by improving institutional rails. While Ethereum remains the primary settlement layer for tokenized stocks, other chains such as Solana are gaining ground as platforms seek cheaper and faster transaction environments.
Regulatory developments in the United States also appear to be helping to shape the next phase of growth. The report singles out December 2025 as a key period, citing new SEC guidance on broker-dealer custody and a DTCC no-action letter related to a tokenization pilot, both of which signal increased engagement from traditional market infrastructure providers.
With token shares approaching $1 billion, the sector emerges as a bellwether for how quickly RWAs can scale – and how much institutional adoption may depend on regulation, custody, and market structure to catch up with blockchain innovation.
