Bitcoin [BTC] may set the tone for the crypto market, but tokenized stocks are building their own path. Will this category dominate in the near future?
Tokenized shares of almost $1 billion
Bitcoin is volatile, going above $120,000 at its peak before falling back to around $68,000-$70,000 at the time of writing.
Tokenized stocks, meanwhile, are moving in the other direction.
Their market cap remained below $100 million for much of 2024 and early 2025, then rose rapidly through late 2025. continued reach approximately $1 billion this year.
This is important, as tokenized stocks simply do not rise in line with the prices of the first crypto.
AMBCrypto previously reported that US crypto policy is going through a phase of innovation. In an interview in March, former CFTC chairman Chris Giancarlo said the focus has shifted from enforcement to the development of strategic digital assets.
He also noted that the SEC and CFTC leaders now meet every two weeks! This could support growth for utility-led sectors such as tokenized stocks.
From almost zero to almost $1 billion…
…the growth curve is quite clear here.
Through most of 2023 and 2024, tokenized stocks were still a minimal category, with overall value staying near the bottom and moving up at a slow pace.
The real breakthrough came in 2025, when the market started to rise in hugely visible leaps.
At the time of writing, the leading platforms already had a combined value of approximately $993.6 million, putting the category right on the edge of the $1 billion mark.
But who is actually leading that growth today? Ondo is the largest platform at $590.4 million, with a 59.27% market share. xStocks follows with $255.2 million and a 25.62% share. Together they account for approximately $845.6 million, or 84.89% of the market.
Behind this is Securitize at $57.5 million, followed by Superstate Opening Bell at $25.1 million and WisdomTree at $23.2 million.
Final summary
- Tokenized stocks have a market cap of almost $1 billion, and are rising regardless of Bitcoin’s recent weakness.
- Ondo and xStocks now control almost 85% of the sector.