Tokenized Equities Reach Record $4.9 Billion as Binance's bStocks Takes 31% Share

Tokenized equities have grown to a record $4.9 billion in total assets under management, up more than 640% from $645 million at the start of the year, according to data from Token Terminal. The category now ranks as the fastest-growing real-world asset segment of 2026.

Binance's bStocks product leads the market with $1.5 billion in AUM, roughly 31% of all tokenized equity assets. The exchange launched the offering on June 11, and it crossed the $1 billion AUM threshold in mid-October, about four months after going live.

How large is the trading activity?

BStocks has processed more than $45 billion in trading volume since launch, according to figures the company reported. Binance also disclosed $7.5 billion in conversions between direct stock positions and bStocks tokens at 1:1 parity.

The redemption structure distinguishes the product from cash-settled alternatives: holders can redeem tokens for the underlying securities rather than their cash equivalent. That design ties the token directly to share custody and shifts operational responsibility for delivery onto the issuing platform.

Are investors using bStocks beyond plain exposure?

The trading data suggests yes. Approximately 56% of bStocks trading volume has occurred outside regular US market hours, indicating demand for round-the-clock access to equity exposure that traditional markets do not provide.

On-chain usage metrics point in the same direction. The product's DeFi utilization rate reached 11.2% in early October, about 3.8 percentage points higher than comparable tokenized equities, per Token Terminal data.

Borrowing against bStocks posted the sharpest move. Loans collateralized by deposited tokens rose more than eightfold, climbing to 46.2% by September 10 from 5.5% at the end of June. That trajectory shows investors treating the tokens as productive collateral within lending markets, not just as passive wrappers around equity positions.

What does the 640% growth signal?

The expansion from $645 million to $4.9 billion in under a year marks tokenized equities as the standout category within real-world asset tokenization for 2026. Binance's 31% market share, captured within roughly four months of launch, demonstrates how quickly a major exchange distribution channel can consolidate a nascent segment.

The collateral and off-hours trading figures carry the clearest operational signal. They show demand concentrated in use cases that traditional brokerage infrastructure cannot serve: continuous trading, on-chain borrowing and composable DeFi integration around instruments that track listed securities.

Whether the category sustains its current pace will depend on how redemption flows, collateral usage and off-hours liquidity develop through the remainder of the year as additional issuers compete for share.