The market for tokenized securities continues to show explosive growth. The rToken product from Bitget, launched just five weeks ago, has already surpassed the $100 million mark in total value locked. This is a clear signal that the tokenized stock segment has moved from the pilot project stage into a phase of active scaling.
Key driver: hype around SpaceX
Since June 2, the total trading volume of rToken has reached $671.37 million, with an average daily turnover of $19.75 million and a daily peak of $56.16 million. The undisputed leader in popularity is the tokenized exposure to SpaceX (rSPCX), which accounts for 23.51% of all platform assets. This is Bitget's largest digitized security. It is followed by rCSCO (17.75%) and rNVDA (13.38%).
The surge in interest coincided with a general rise in the entire tokenized stock market. In June, their trading volume reached $3.4 billion for the first time: monthly growth was 279%, and yearly growth was 1400%. The main reasons are the hype around SpaceX and the possibility of 24/7 trading, which is not available on traditional exchanges.
Trading intensifies, but the user base is contradictory
According to RWA.xyz, the total market capitalization of the tokenized stock segment is approximately $1.82 billion, having increased by 26% over the last 30 days. Monthly transaction volume reached $8.79 billion, which is 88% higher than a year ago. The number of holders also grew by 16%, to 414,000.
However, the dynamics of active addresses raise questions: over 30 days, their number decreased by approximately 75%, despite the growth in value and number of transactions. This may indicate a consolidation of funds by large players, rather than a mass influx of retail investors.
The growth of this segment opens access to equity instruments via the blockchain, allowing traders to hold digital stock shares and trade them outside standard sessions. This significantly expands opportunities for a global audience.
My opinion: The success of rToken is not just a successful launch, but an indicator of market maturity. We are seeing how institutional interest in RWA tokenization is translating into real volumes. However, the decline in the number of active addresses amid rising capitalization is a warning sign. This could mean that the market is being driven by large players, while the retail investor remains on the sidelines. Watch how this trend develops in the coming months.