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Bitcoin’s price swings have dominated headlines, but tokenized stocks are charting a different trajectory. While Bitcoin traded as high as above $120,000 before falling to roughly $68,000–$70,000 at the time of writing, tokenized stocks have continued to expand, reaching close to $1 billion in market capitalization.
Tokenized stocks remained below $100 million for much of 2024 and early 2025, then accelerated through late 2025. This year, the category reached about $1 billion, according to Token Terminal data.
The growth has not tracked Bitcoin’s price moves, with tokenized stocks not rising in line with the first crypto’s performance.
AMBCrypto previously reported that U.S. crypto policy is moving through an “innovation-first” phase. In a March interview, former CFTC Chair Chris Giancarlo said the focus has shifted away from enforcement toward strategic digital asset development.
Giancarlo also noted that SEC and CFTC leadership now meet every two weeks, which could support growth for “utility-led” sectors such as tokenized stocks.
Tokenized stocks were a minimal category through much of 2023 and 2024, with total value staying near the floor and increasing slowly. The breakout came in 2025, when the market began stepping up in more visible jumps.
At the time of writing, leading platforms together were at roughly $993.6 million, placing the category right on the edge of the $1 billion mark, based on rwa.xyz data.
Ondo is the largest tokenized stocks platform at $590.4 million, representing a 59.27% market share. xStocks follows with $255.2 million and a 25.62% share.
Together, Ondo and xStocks account for about $845.6 million, or 84.89% of the market.
Other platforms include Securitize at $57.5 million, Superstate Opening Bell at $25.1 million, and WisdomTree at $23.2 million.
Tokenized stocks have nearly $1 billion in market capitalization and are rising independently of Bitcoin’s recent weakness. Ondo and xStocks together command almost 85% of the sector.
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