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Following on from last week’s report on tokenized equity holders, the growth in the number of wallets holding tokenized stock has shown no signs of slowing down. Eight days ago, this number stood at 766,366. The latest data from RWA.xyz now shows that the number has reached 1,020,510 which is a 33% increase in just over a week. Zoom out to a year and the growth becomes staggering. A year ago, the total number of tokenized stock holders stood at 58,999, that is a 17.3x increase from where we stand today. No other category within the RWA space is moving at that speed.
Source: RWA.xyz
Stocks Now Hold Two Thirds of Every RWA Wallet Onchain
As of this writing, there are a total of 1.62 million RWA holders onchain. 62.8% of that now falls under the tokenized equities category. Rewind to last August and that share was 13.1%. Commodities is the second largest category with 256,264 holders which is around a quarter of the stock number. This comes after commodities grew 130% year over year, which once again tells you the sheer acceleration in tokenized stocks.
The entire RWA holder base rose from 449,297 to 1,622,570 over the past year, an addition of about 1.17 million wallets. Within this, stocks account for roughly 960,000 of them.
bStocks Did The Work This Time
In last week’s report, we highlighted how tokenized stocks on the newly launched Robinhood chain brought in the numbers. Since the readings from July 28 onwards, however, holders of its tokenized stock products grew low single digits while the overall count added a third. This means the newest wave of holders came from somewhere else.
That somewhere is bStocks, Binance’s tokenized securities arm, live since June 11 and operated by BTech Holdings under an Abu Dhabi Global Market license.
The largest tokenized stock onchain right now is SpaceX on bStocks with around 107K holders. The next two are NVIDIA xStock at 64K and NVIDIA Robinhood Token at 33K. Add both and what you get is that SpaceX on bStocks still comes out ahead.
Platform value moved with the holders
bStocks total value climbed 93.25% over 30 days to $559.2 million, passing xStocks at $540.8 million and taking second place with 24.18% market share. It did that with 67 assets against 642 on xStocks.
Ondo still leads on value at $854.1 million and 36.93% share, though its 30 day change was 0.40% and its slice is shrinking as the field grows around it. Robinhood’s tokenized stock value is $27.1 million, up 125.2% over 30 days, which still leaves it at 1.17% of the market across 94 assets.
What the average position says
Distributed tokenized stock value across the top ten platforms works out to roughly $2.3 billion. Split across 1.02 million holders, that is about $2,250 a wallet.
Small, and it should be. Growth here is coming from wallets opening positions of a few hundred dollars, not from desks taking size. Holder counts and total value have been climbing on very different curves since July, and whether they converge is the number to watch into the fourth quarter.
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