Securitize and Ondo dominate the tokenized stock market: Robinhood lags by 40 times
The market for tokenized stocks on the blockchain has reached $3.7 billion in on-chain market capitalization. However, the key takeaway from this growth is not just the numbers, but the structure of capital distribution. The market has proven to be deeply institutional, not retail, and the leaders here are not at all what one might expect based on loud media headlines.
My data analysis shows that about 60% of the total market capitalization of tokenized stocks is concentrated on just two platforms: Securitize and Ondo. This is direct evidence that real demand is driven by professional players, not the mass retail trader. Robinhood, despite all the hype surrounding its cryptocurrency initiatives, ranks only tenth with a figure of $31 million. The gap with the leaders is enormous: Securitize ($1.274 billion) and Ondo ($966 million) surpass it by 40 times.
Who trades what: SpaceX leads the way
The distribution of capital across platforms is just the tip of the iceberg. It is much more interesting to look at which specific assets are in highest demand. The leader in daily trading volume is the tokenized stock of SpaceX ($31.7 million). This is a telling signal: tokenization opens access to assets that are either difficult to access on the traditional market or not publicly traded at all.
The top also features technology and semiconductor giants: SanDisk ($25.5 million), SK Hynix ($15.2 million), NVIDIA ($14.7 million), Alphabet ($11.6 million). This confirms that through tokenization, investors are seeking exposure to the hottest sectors—artificial intelligence and chip manufacturing.
My professional opinion: the current picture of the tokenized stock market is not an experiment, but an already established trend. We are seeing not just growth in market capitalization, but a clear signal from major players. They are voting with their money for platforms originally designed for real assets, not for retail trading. Robinhood, for all its retail reach, remains on the periphery of this process for now. For those seeking long-term opportunities, it is worth closely watching Securitize and Ondo—they are the ones building the foundation of this new market.