Securitize and Ondo have left Robinhood far behind: a 40-fold gap in the tokenized stock market
The market for tokenized stocks on the blockchain has reached $3.7 billion, and its structure clearly indicates the dominance of institutional players rather than retail platforms. Leading positions are held not by popular apps, but by platforms originally designed to work with real-world assets — Securitize and Ondo. Together, they control about 60% of the total capitalization of this segment.
Who is at the top?
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
The biggest surprise is Robinhood. Despite the loud headlines and retail popularity, its volume of tokenized stocks is only $31 million. The gap between the leaders and the rest of the participants is enormous: Securitize and Ondo surpass Robinhood by more than 40 times. This clearly demonstrates that real demand for tokenized securities is driven by professional investors, not the mass user.
What is being traded most actively?
An analysis of daily trading volumes paints a clear picture of preferences. The leader is the tokenized stock of SpaceX with a volume of $31.7 million per day. The top also includes SanDisk ($25.5 million), SK Hynix ($15.2 million), NVIDIA ($14.7 million), and Alphabet ($11.6 million). Technology and semiconductor companies dominate the upper part of the list, indicating a clear focus on sectors related to artificial intelligence and chip manufacturing.
Notably, SpaceX holds the top spot. Tokenization provides access to stocks that are difficult or impossible to buy on the traditional market. This is further confirmation that the technology solves a real liquidity problem for private companies.
My expert opinion: The tokenized stock market in 2026 is no longer a theory but a functioning mechanism with real capital and clear signals. Investors are voting with their dollars for platforms with deep expertise in real-world assets, not for retail apps. Securitize and Ondo are setting the standard, and their lead over competitors will only grow as institutional capital flows in. Robinhood, despite its brand, remains an outsider in this race for now.