Ethereum
Tokenized Equities Reach $3.9 Billion as Ethereum Ranks Second Behind BNB Chain
Ethereum accounts for nearly $842 million in tokenized stocks as the broader sector sets a new aggregate record.
Total market capitalization for tokenized stocks reached a record $3.9 billion on October 12, according to data from Token Terminal. BNB Chain holds the leading position with approximately $1.2 billion, while Ethereum ranks second with $841.9 million and Solana follows with $741.7 million. Together, the three networks represent around $2.8 billion, which is roughly 71% of the monitored market.
Token Terminal's valuation metric measures the aggregate value of active circulating tokens rather than transaction volume or newly invested capital. The report points to developing use cases across decentralized finance platforms, including collateralization for stablecoin loans and strategic adoption by protocols such as Aave and Ethena, alongside regulatory preparation in South Korea.
The rights tied to tokenized stocks differ according to the issuer, and holders do not automatically receive traditional equity privileges such as voting rights. Under structures like Coinbase's setup, tokens correspond to certificates issued by a specific entity, with physical shares maintained in separated accounts at broker Alpaca and dividend proceeds reinvested after fees and taxes rather than directly distributed.
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