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Until recently, tokenized stocks were considered a niche experiment at the intersection of cryptocurrencies and traditional finance (TradFi). Today, they are a full-fledged class of infrastructure that blurs the boundaries between stock markets and digital assets. For millions of crypto exchange users, investing in shares of global giants is becoming as simple as buying Bitcoin or Ethereum. And this is only the beginning of a deep transformation.

From a Niche Product to a Full-Fledged Market

2026 has become a turning point. According to my analysis of DeFiLlama data, the market capitalization of tokenized stocks has soared by more than 140% since the start of the year — from $814 million to nearly $2 billion. This is one of the fastest growth rates among all digital asset segments. But behind the numbers lies a more important shift: the structure of demand is changing. Investors no longer choose between the high returns of crypto and the stability of stocks. They want to combine Bitcoin and shares of Nvidia or Apple in a single portfolio, using one unified platform. This is why we at Bitget are developing the concept of a universal exchange (UEX), where cryptocurrencies, stocks, commodities, and other instruments are accessible from a single account.

Execution Quality — The New Standard

At the dawn of the market, users evaluated platforms by the number of available assets. Now that the segment is maturing, trading quality is taking center stage. Traders accustomed to traditional exchanges look at liquidity, order book depth, and execution costs. And here, tokenized assets are following the same path. According to my data, the median bid-ask spread on Bitget is 0.83 basis points — less than a hundredth of a percent. This is the best figure among the largest platforms. Order book depth at the best prices is also maximal. These seemingly technical details directly determine a trader's costs: a low spread reduces losses on entry and exit, while high liquidity allows large trades to be executed without slippage.

Liquidity — The New Currency of Trust

The main problem of the first generations of tokenized assets was a lack of liquidity. Platforms offered dozens of stocks, but volumes remained minuscule, leading to wide spreads and slippage. Now the situation is changing dramatically. From June 2 to July 19 alone, the trading volume of rTokens — RWA tokens of the Reality platform — exceeded $1.16 billion. The greatest interest remains in technology companies, semiconductor manufacturers, AI developers, and ETFs on innovative sectors. This reflects a global trend: tokenized stocks are becoming a bridge to fast-growing industries without the need to open an account with a foreign broker.

Transparency as a Foundation

High liquidity must be backed by trust. Therefore, the key area of development is collateral transparency. Reality has expanded its partnership with The Network Firm and has moved to daily publication of independent Proof-of-Reserves reports for 500 tokenized stocks and ETFs. An investor can verify at any time that each rToken is fully backed by the underlying security. I am convinced that such standards will become the norm for the entire industry.

Three Years That Will Change Everything

We are at the beginning of the journey. In the next three years, the market will undergo fundamental shifts. First, the number of tokenized assets will grow significantly: from shares of European and Asian companies to government bonds, corporate debt, and commodities. Second, liquidity will become the main competitive advantage — platforms will compete not on the number of listings, but on market depth and execution speed. Third, the boundaries between TradFi and cryptocurrencies will disappear: an investor will open one account and buy Bitcoin, Nvidia shares, S&P 500 ETFs, gold, and bonds from it.

My View on the Future

Tokenization is not just a digital wrapper for traditional assets. It changes the very mechanics of interacting with markets. When stocks trade around the clock and are accessible to any wallet holder, the market becomes more open and efficient. The next three years will be a period when tokenized stocks finally transition from the category of innovation to a mass instrument. This is why it is critically important now to invest not only in expanding the product line, but also in liquidity, transparency, and execution quality. These factors will determine the leaders of the new generation of the financial system.

The author's opinion does not necessarily coincide with the position of the editorial board. ForkLog is not responsible for readers' investment decisions.