Tokenized equities are approaching the $1 billion mark, underscoring how real-world asset (RWA) tokenization is moving beyond pilots and into a fast-developing segment of crypto market infrastructure.
A new report from Sentora and DL Research found that tokenized stocks reached roughly $963 million in market value as of January 2026, representing a year-on-year increase of nearly 2,878% from just $32 million a year earlier.
The rise reflects growing demand for blockchain-based access to traditional financial assets, as firms increasingly explore tokenization as a way to improve settlement efficiency, broaden market access and build always-on financial products. Tokenized equities, in particular, have become one of the most visible examples of RWAs expanding beyond private credit and Treasury bills into more mainstream instruments.
Still, the market remains highly concentrated. The report shows Ondo Global Markets holds the largest share, accounting for more than half of the tokenized equity value, with xStocks and Securitize representing most of the remainder.
The dominance of a few issuers highlights both the sector’s early-stage nature and the importance of regulated issuance frameworks.
Much of the momentum has been driven by improvements in institutional rails. While Ethereum remains the primary settlement layer for tokenized equities, other chains such as Solana are gaining traction as platforms seek cheaper, faster transaction environments.
Regulatory developments in the U.S. also appear to be helping shape the next phase of growth. The report points to December 2025 as a key period, citing new SEC guidance on broker-dealer custody and a DTCC no-action letter tied to a tokenization pilot, both of which signal increased engagement from traditional market infrastructure providers.
With tokenized equities nearing $1 billion, the sector is emerging as a bellwether for how quickly RWAs can scale — and how much institutional adoption may hinge on regulation, custody and market structure catching up with blockchain innovation.
