Securitize and Ondo hold 60% of the tokenized stock market: Robinhood lags by 40 times
The total market capitalization of tokenized stocks on the blockchain has exceeded $3.7 billion, and as my latest calculations show, this sector has long ceased to be an experimental niche. This is a mature institutional market, dominated not by retail giants, but by platforms initially focused on real-world assets.
The leaders are Securitize and Ondo. Together, they control nearly 60% of the total market capitalization — $1.274 billion and $966 million, respectively. For comparison, Robinhood, despite loud media headlines, ranks only tenth with a meager $31 million. The gap between the leaders and retail platforms is more than 40 times, completely debunking the myth that tokenization is a story for the mass investor.
Who Dominates On-Chain Capitalization
The distribution of on-chain capitalization is as follows:
- Securitize: $1.274 billion
- Ondo: $966 million
- xStock: $576 million
- bStock: $376 million
- Figure: $210 million
- Aktionariat: $118 million
- Republic: $113 million
- Mt Pelerin: $56 million
- Stobox: $34 million
- Robinhood: $31 million
As you can see, Robinhood is not just lagging behind — it is at the very bottom of the list. This confirms that real demand for tokenized stocks is driven by institutional players, not retail traders. Securitize and Ondo are not just exchanges, but infrastructure platforms for issuing and managing digital securities, which has secured their leadership.
Most Traded Assets: AI and Semiconductors
Analysis of daily trading volumes also reveals a clear trend. The most liquid asset is tokenized shares of SpaceX, with a volume of $31.7 million per day. This is noteworthy because SpaceX is a private company, and tokenization provides access to its shares, which is virtually impossible in the traditional market.
Top 9 assets by daily volume:
- SpaceX: $31.7 million
- SanDisk: $25.5 million
- SK Hynix: $15.2 million
- NVIDIA: $14.7 million
- Alphabet: $11.6 million
- Nebius: $6.1 million
- Cerebras: $5.3 million
- Broadcom: $4.2 million
- Tesla: $4.1 million
Note: the top of the list is dominated by technology and semiconductor giants — NVIDIA, Broadcom, SK Hynix. This is a clear signal that investors are seeking exposure to AI and chip manufacturing through tokenized instruments. SpaceX's presence in first place is further confirmation that tokenization solves the liquidity problem for private companies.
My conclusion: The tokenized stock market in 2026 is no longer a theory, but a working tool with real volumes and a clear signal about what investors truly want to own. Securitize and Ondo have set the standard, and retail platforms like Robinhood will need to seriously rethink their strategy if they want to catch this train.