BNB Chain Tops $1B as Tokenized Stock Market Shifts
BNB Chain has become the first blockchain to cross $1 billion in tokenized stocks and exchange-traded funds, marking a sharp change in a market Ethereum dominated at the beginning of 2026.
Summary:
- BNB Chain now hosts about $1.1 billion in tokenized stocks and ETFs.
- Its share has climbed from 13% in January to roughly 30%.
- Around 1.8 million addresses hold tokenized stocks on BNB Chain.
- Onchain stock transfers exceeded $100 billion in Q3.
The network now hosts approximately $1.1 billion in tokenized securities, according to the latest Token Terminal figures cited across the market. With the global total near $3.7 billion, BNB Chain accounts for roughly 30% of the sector. Ethereum follows at about $828 million, while Solana holds around $738 million.
Nine months ago, BNB Chain was nowhere near the top.
In January, the entire tokenized stock and ETF market was worth approximately $719 million. Ethereum controlled 48%, Solana held 31%, and BNB Chain accounted for only 13%.
The market has since expanded more than fivefold. BNB Chain captured an outsized portion of that new issuance and now has another advantage that market capitalization alone does not show: 45% of all tokenized-stock holding addresses are on BNB Chain.
That combination of capital and distribution is reshaping the competitive map for onchain equities.
BNB Chain Went From 13% to About 30% of the Market
The shift in market share is striking because it happened while the entire sector was expanding.
At the beginning of the year:
- Ethereum: 48%
- Solana: 31%
- BNB Chain: 13%
The latest market values put the distribution closer to:
- BNB Chain: ~$1.10 billion, or ~30%
- Ethereum: ~$828 million, or ~22%
- Solana: ~$738 million, or ~20%
Ethereum and Solana losing percentage share does not necessarily mean tokenized assets are leaving either network. Their absolute markets can continue growing while BNB Chain captures a larger proportion of new issuance.
Binance Research provides another snapshot from Sept. 29. Using RWA.xyz data from slightly earlier in the market’s expansion, it placed tokenized stocks above $3 billion and BNB Chain’s share at 34%. The difference from the newer roughly 30% figure reflects a market that has continued expanding since that research snapshot. Binance
What has changed is BNB Chain’s position within that growth. It started 2026 as a distant third among the major networks and has moved into first place as the sector added billions of dollars in value.
bStocks and Ondo Expanded the Product Base
BNB Chain’s rise coincides with a rapid expansion in the number and distribution of tokenized equities available on the network.
Two ecosystems have been particularly important: bStocks and Ondo Global Markets.
Binance Research identified bStocks as one of the major drivers of tokenized-stock growth in 2026, while Ondo has expanded access to blockchain-based representations of U.S. equities and ETFs across multiple networks.
The growth is increasingly visible beyond simple issuance.
Onchain transfers involving tokenized stocks surpassed $100 billion during Q3, compared with approximately $6 billion in Q1, according to Binance Research. The 60-day DeFi TVL ratio for the category also increased from 1.8% to 6.3%.
Decentralized exchange activity is moving in the same direction. Tokenized stocks’ DEX ratio rose from virtually zero earlier in the year to an average of approximately 11% during September.
Those numbers capture a more important stage of tokenization than market capitalization alone. Stocks are not only being represented on blockchains. A growing portion is being transferred, traded or deployed inside existing onchain financial infrastructure.
BNB Chain Has 45% of Holders but 30% of the Capital
BNB Chain’s address data reveal a different advantage.
Binance Research counted approximately 1.8 million tokenized-stock holding addresses on BNB Chain as of Sept. 28, equivalent to 45% of the market. Binance
That is considerably higher than the network’s roughly 30% share by asset value.
The gap suggests BNB Chain has a smaller average tokenized-stock balance per holding address than networks where capital is more concentrated.
It should not be interpreted as 1.8 million individual investors. Blockchain addresses are not equivalent to people: one investor can control multiple wallets, while custodial structures can aggregate assets belonging to multiple users.
READ MORE: Goldman Brings $100B Treasury Fund to Crypto Without Tokenizing It
Still, the distribution is difficult to dismiss. BNB Chain has attracted a disproportionately large share of the wallets participating in tokenized equities, rather than reaching $1 billion solely through a small number of large positions.
Its low-cost transaction environment and close connection to Binance’s global distribution infrastructure provide a natural setting for smaller positions and more frequent onchain activity.
The SEC Is Opening a U.S. Route for Tokenized Stocks
BNB Chain’s milestone has largely developed outside the U.S. market, but the regulatory backdrop there has changed as well.
On Sept. 17, the U.S. Securities and Exchange Commission approved a five-year temporary conditional exemption allowing qualifying Tokenized Securities Venues to facilitate limited trading of tokenized National Market System stocks using permissioned automated market makers and liquidity pools. Securities and Exchange Commission
The framework is much narrower than unrestricted blockchain trading of U.S. equities.
Participating venues must meet conditions covering access, transparency and investor protection. Tokenized shares must provide the same rights and privileges as the corresponding traditional stock, while trading remains subject to symbol and volume limits. Smart contracts used by qualifying venues must also be public and auditable. Securities and Exchange Commission
SEC Commissioner Mark Uyeda described the exemption as a controlled way for the regulator to gather real-world data before deciding how permanent rules should work. Securities and Exchange Commission
SEC Innovation Exemption for tokenized stocks
That regulatory change did not produce BNB Chain’s rise. The network had already accumulated its large international holder base before the exemption arrived.
Instead, the SEC framework introduces another competitive front. Tokenized equities now have an experimental regulatory route into U.S. onchain markets at the same time that offshore products are establishing substantial liquidity and distribution.
Tokenized Stocks Are Moving Beyond Issuance
The strongest evidence of change in this market is no longer the number of stocks that have been tokenized.
It is what happens after issuance.
Tokenized-stock transfers increased from roughly $6 billion in Q1 to more than $100 billion in Q3. DeFi deployment rose. DEX participation reached double digits. Meanwhile, BNB Chain accumulated nearly half of the sector’s holding addresses. Binance
That creates a different competitive test for Ethereum, BNB Chain and Solana.
Networks now need more than issuers willing to deploy tokenized securities. They need holders, secondary liquidity and infrastructure that can make those assets useful once they arrive onchain.
BNB Chain currently leads the first two visible measures: approximately $1.1 billion in tokenized stocks and ETFs and 1.8 million holding addresses.
The next figures worth watching are its share of trading and DeFi activity. If those begin converging with its unusually large holder base, the network’s lead will extend beyond issuance into the actual use of tokenized securities.
he information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Zdravkov
Reporter at CoinsPress
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
