Redstone publishes research on tokenized stocks market trends, ownership mechanics, and DeFi collateral adoption gaps.
RWA & Tokenization ·
Tokenized stocks expanded to $3.17 billion in onchain value by September 2026, up 395% year-over-year from $640 million, making them the second-fastest-growing real-world asset category after tokenized private equity. The sector's share of total RWA value tripled to 8.1% despite the broader RWA market growing only 68% in the same period. Research by RedStone, Four Pillars, and Alea Research found that the average tokenized stock holder maintains a position of about $780 across 4.04 million accounts.
Despite eligibility, tokenized stocks see minimal DeFi adoption as collateral, with only 2.6% of total supply borrowed against, concentrated in platforms like Kamino and Jupiter Lend. The research notes that about 42% of tokenized stock supply is technically usable as collateral, yet remains largely untapped. Trading in these assets occurs predominantly as perpetual contracts rather than spot transactions, with centralized exchanges like Binance dwarfing onchain volume by 32 to 43 times in August 2026.
Key gaps persist around ownership structures, with the three largest issuers accounting for roughly 70% of onchain value providing no direct share ownership to token holders. Trading activity concentrates outside regular market hours, with roughly 55% of transactions occurring during weekends and evenings. Regulatory approaches diverge by jurisdiction, ranging from US-based issuer-led SEC exemptions to regulator-led frameworks in Hong Kong, South Korea, and ADGM.