Tokenized equities issuers ONDO and Securitize have collectively distributed over $2.1B, with ONDO holding 45% market share and establishing tokenized stocks as 2026's dominant RWA narrative.
RWA & Tokenization ·
ONDO has distributed $845M in tokenized stocks, capturing 45% market share, while Securitize has issued $1,274M, bringing combined issuance across the two platforms to over $2.1B. The two firms have emerged as the primary distributors of equity tokens in the space.
Tokenized equities—stocks issued and traded on blockchain infrastructure—have grown into a substantial segment within real-world assets (RWAs), a category that historically centered on bonds and loan instruments. The scale of issuance suggests institutional and retail participation in stock tokenization has accelerated significantly.
It remains unclear what fraction of this $2.1B represents active trading volume versus assets under management, how many distinct issuers and investors are involved, or what regulatory frameworks have enabled or constrained this growth. The claim that tokenized equities have become "the biggest RWA narrative" lacks comparative metrics for other RWA segments such as bonds, real estate, or commodities.