Tokenized Equity Trading Hits $3B Weekly Spot Volume, Grayscale Report Shows Growth

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Tokenized equity trading volume hit nearly $3 billion in early August, according to a weekly market report. Robinhood Chain, BNB Chain, and Solana led the growth, with onchain TVL rising above $110 million. Grayscale noted that onchain financial utility makes up about 5% of the market, with lending via Kamino and Jupiter up tenfold in a year. U.S. regulators are reviewing settlement rules for tokenized equities.
  • Tokenized equity trading neared $3B weekly, with Robinhood Chain, BNB Chain and Solana leading activity.
  • Onchain finance accounts for 5% of tokenized equities, while Kamino and Jupiter lending grew about tenfold.
  • Regulatory changes could reshape tokenized equity settlement by allowing securities and payment to settle in one transaction.

Tokenized equity trading hit a new high in August, with weekly spot volume nearing $3 billion early in the month. Grayscale Head of Research Zach Pandl said Robinhood Chain, BNB Chain, and Solana led activity last week. Together, the three networks handled most tokenized equity trading volume, while onchain TVL passed $110 million.

Trading Volume Reaches New High

The weekly volume peak came during early August, when spot activity reached about $3 billion. Onchain TVL also moved above $110 million during the period. The market recorded nearly $3 billion in weekly spot volume during early August.

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Source: Grayscale

Grayscale identified Robinhood Chain, BNB Chain, and Solana as the leading networks last week. Those networks accounted for the majority of total trading volume, according to Pandl. Meanwhile, tokenized equity activity remained focused more heavily on trading than other onchain uses.

Onchain financial utility currently covers about 5% of the tokenized equity market. Investors therefore currently use tokenized stocks mainly for continuous trading and global access, according to the report.

Onchain Finance Holds Small Share

The report said trading activity has grown faster than onchain financial use. It placed the current share of tokenized equities in onchain finance at about 5%. The smaller share in onchain finance comes alongside growth in lending activity.

Tokenized equities used through Kamino and Jupiter lending protocols have grown about tenfold over the past year. However, the report also noted that U.S. regulators have discussed an innovation exemption with safeguards for tokenized securities.

Those safeguards could include verified participants and compliance-enabled token standards. Regulators have also discussed tokenization in connection with making securities easier to use as collateral. Regulatory changes could also affect how equity trades settle onchain.

Rules Could Shape Settlement

One proposed change would allow the equity and payment to settle within one transaction. That structure could reduce the risk of either side failing to deliver.

Pandl described the current market as a trading-focused phase, with financial utility representing a smaller portion. The report highlighted lending activity through Kamino and Jupiter as an area where onchain use has expanded.

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