BNB Chain crosses $1B in tokenized stocks, ETFs as market hits $3.7B
Tokenized stocks and ETFs on BNB Chain reached $1.1 billion as the broader market climbed to $3.7 billion, putting the network’s share at roughly 30%.
BNB Chain has become the first blockchain to cross $1 billion in tokenized stocks and exchange-traded funds (ETFs).
The market capitalization of the tokenized stocks and ETFs rose around 17% to $3.35 billion in September from $2.87 billion in August, according to Token Terminal data.
The sector’s market cap on BNB Chain stood at $1.1 billion at the time of publication, accounting for roughly 30% of the $3.7 billion market, followed by Ethereum at $828 million, or 22%, and Solana at $738 million, or 20%.
BNB Chain also led with 1.8 million addresses holding tokenized stocks, accounting for 45% of the total, Binance Research said in a report on Tuesday. The network hosts products including Binance bStocks and Ondo Global Markets tokenized securities.
Tokenized stocks and ETFs have grown more than fivefold from $719 million in January, when Ethereum accounted for about 48% of the market, Solana 31% and BNB Chain just 13%, according to Token Terminal data.
Related: Tokenized assets don’t always mirror traditional markets, Dune finds
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.