- Tokenized stocks showed a 176% surge in total value and a 225% increase in wallet base in 2026, becoming one of the best-performing RWA sectors this year.
- Of the roughly 372,000 new RWA wallets added across all categories in 2026, 74% came from tokenized stocks.
- Average value per wallet in tokenized stocks sits at roughly $4,800, making it one of the most retail-oriented segments of the RWA market.
- Tokenized stocks are on track to reach $4 billion in market cap and 1 million wallet base by the end of 2026.&
Despite a challenging market environment, demand for real-world assets continued to expand in the first half of 2026. While the broader crypto market lost 27% of its value and DeFi TVL fell by more than 36%, the RWA sector climbed over 48%, surpassing $33 billion.
Much of the sector’s momentum came from tokenized stocks. More than any other RWA category, they attracted new participants, emerging as the leading gateway for users entering the RWA ecosystem.
Tokenized Stocks Now Capture 42% of the Total RWA Wallet Base
At the start of 2026, tokenized stocks were a mid-tier RWA category. Around 122,000 wallets held them, and the market cap was only $691 million. Today the category has roughly 400,000 wallets and a market cap of nearly $2 billion — up 225% and 176% respectively in six months.
This growth helped tokenized stocks become the single largest RWA category by wallet count, overtaking tokenized commodities such as gold and silver in May.&
Tokenized stocks now represent 42% of all RWA wallets, rising from 21% at the start of 2026. However, in terms of total value, tokenized stocks are still a relatively modest sector, with their share in RWA rising from 3% to 5.7% in 2026.
Overall, tokenized stocks have become a major driver of RWA adoption. Of the roughly 372,000 new RWA wallets added across all categories in 2026, 74% came from tokenized stocks. This suggests that for many newcomers, tokenized equities are becoming the preferred entry point into RWA.
Q2 2026 Is Already The Fastest-Growing Period For Tokenized Stocks
Throughout 2026, the growth of tokenized stocks continues to accelerate. In Q1, the sector added $280 million in market cap and around 80,000 wallets. In turn, in Q2, tokenized stocks increased by roughly $940 million in market cap and approximately 195,000 new wallets.&
This means that nearly half (49%) of all tokenized stock wallets that exist today were created last quarter. For reference, Q3 2025 was the previous high-water mark, driven by the launch of xStocks and Ondo’s tokenized equity expansion, but Q2 2026 outpaced that in absolute terms.
The Tokenized Stock Sector is Extremely Retail-Driven
Average value per wallet in tokenized stocks sits at roughly $4,800, making it one of the most retail-oriented segments of the RWA market. By comparison, tokenized gold averages around $19,400 per wallet, while U.S. Treasuries are closer to $325,000. Even traditional brokerage platforms report higher figures: Robinhood has roughly $12,500 per funded user, and Charles Schwab’s average account balance is around $260,000.
Taken together, these figures suggest that tokenized stocks are attracting a broad base of smaller investors who are primarily allocating relatively modest amounts of capital. Most likely, this is because tokenized stock adoption remains in its early stages.
On the growth side, let’s compare 195,000 new tokenized stock wallets added in Q2 to traditional brokerages. For reference, Webull, one of the fastest-growing US retail brokers, added around 80,000 funded accounts last quarter, meaning tokenized stocks more than doubled that pace. In turn, Interactive Brokers, a much larger and more established platform, added roughly 350,000 accounts over the same period — about 1.8x more than tokenized stocks. The gap is still real, but the adoption velocity of a nascent onchain asset class is now in the same conversation as some of the most active players in traditional retail brokerage.
That said, wallet growth of tokenized stocks is currently outpacing value growth by about 28%, and the average holding per wallet has dropped roughly 15% since the start of the year. This suggests that adoption is being driven more by new participants entering the market than by existing investors increasing their allocations.
But this trend isn’t a straight line: new wallets in Q2 actually brought in more capital per wallet than those in Q1, likely thanks to the SpaceX IPO. Q3 will show if it’s a real shift or a one-off.
What’s Driving the Surge?
Three catalysts are primarily driving the wave of tokenized equity demand.
- The tech trade found a crypto-native home. Tech and crypto stocks have dominated market narratives for over a year. Some crypto-native investors wanted exposure but had no appetite to bridge back to a traditional brokerage, and tokenized equities solved that. The most popular holdings of tokenized stocks today read like a Robinhood top-movers list: NVDA, TSLA, AAPL, MSTR, and CRCL stocks, alongside S&P 500 and Nasdaq index trackers. It’s the same assets driving retail trading everywhere else, just accessible on-chain.
- Private company access opened a door that was previously shut. Retail investors have never had a real path into pre-IPO companies like SpaceX, Anthropic, or leading private AI firms — those allocations go to institutions and insiders. Tokenized equity platforms tried to change that calculus. One of the biggest drivers of tokenized stocks demand in Q2 was the SpaceX IPO and the hype around, which brought increased attention to the sector in general.
- The broader tokenization of stocks is becoming infrastructure. This isn’t just a crypto-native trend anymore as companies like DTCC are aiming to bring tokenized treasuries, stocks, and ETF in 2026-2027. U.S. and Japanese banks are moving in the same direction, with several planning near-term product launches in tokenized deposits and equities. All of that normalizes tokenized stocks as an asset class, providing a boost to existing offerings.
What Could Come Next?
Tokenized stocks and their adoption across both crypto-native and TradFi-based markets continues to show growing momentum. At the current pace of approximately $72 million in new value added per week, tokenized stocks are on track to reach $4 billion in market cap by the end of the year. However, if existing acceleration persists, this number could exceed $6 billion.
As for the holder base, it currently shows no signs of slowing, suggesting that the sector may reach 1 million wallets by the end of 2026.&
Overall, although the near-term demand picture looks solid, the bigger question is structural. As regulated institutional infrastructure matures, it could expand the total market for tokenized equities significantly. Alternatively, it could gradually pull demand away from crypto-native platforms as mainstream investors gain access through familiar channels. That tension — between crypto-native and TradFi rails for the same underlying assets — will likely define the next phase of this sector more than any single catalyst.
Sources
The data used for this research consists of publicly available information from RWA.xyz, CoinGecko, DeFiLlama, and Dune. Please note that wallet count is not the same as user count, as a single investor may control multiple wallets. However, wallet count remains one of the most consistently available and comparable measures of adoption across RWA categories. The observation period for this study was focused on tokenized stock performance in 2026, with data points ending July 1, 2026.
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