BNB Chain passes $1 billion in tokenized stocks and ETFs, leads $3.7B market
In brief
- BNB Chain holds $1.1 billion in tokenized stocks and ETFs, per Token Terminal data.
- BNB Chain's share is roughly 30% of a $3.7 billion market, ahead of Ethereum (22%) and Solana (20%).
- BNB Chain held just 13% in January, while Ethereum led with about 48%.
- 1.8 million holder addresses sit on BNB Chain, 45% of the total, per Binance Research.
How the market splits
Ethereum ranked second with $828 million, or 22% of the market, according to Token Terminal data cited by Cointelegraph. Solana was third at $738 million (20%).
That's close to a full reversal from the start of the year. In January, Ethereum accounted for about 48% of the market, Solana held 31% and BNB Chain had just 13%, per Token Terminal.
BNB Chain went from a distant third to first.
The category grew a lot over the same stretch. Tokenized stocks and ETFs grew more than fivefold from $719 million in January, and the sector's market cap rose about 17% to $3.35 billion in September from $2.87 billion in August, according to Token Terminal data. (The $3.35 billion is a September figure. The $3.7 billion total reflects the market when Cointelegraph published, so they're separate snapshots and shouldn't be read as one series.)
Holders, products and an affiliation caveat
Binance Research said in a report on Tuesday that BNB Chain also led with 1.8 million addresses holding tokenized stocks, or 45% of the total.
That number needs context. Binance is affiliated with BNB Chain and runs the bStocks product, so the holder count comes from a party with a direct interest in how the network's numbers look. It isn't independent data in the way Token Terminal's market cap figures are presented.
The network hosts products including Binance bStocks and Ondo Global Markets tokenized securities, according to Cointelegraph.
The two datasets also measure different things. Token Terminal tracks market cap by chain, while Binance Research counted holder addresses, and it's worth keeping those apart when comparing BNB Chain against Ethereum or Solana.
Frequently asked questions
How much of the tokenized stock and ETF market is on BNB Chain?
BNB Chain held $1.1 billion in tokenized stocks and ETFs when Cointelegraph published its report, about 30% of a $3.7 billion market, according to Token Terminal data. Ethereum was second with $828 million (22%) and Solana third with $738 million (20%).
How have chain market shares in tokenized stocks changed since January?
In January, Ethereum accounted for about 48% of the market, Solana 31% and BNB Chain 13%, according to Token Terminal data. BNB Chain now leads with roughly 30%, while Ethereum's share is 22% and Solana's is 20%.
How many addresses hold tokenized stocks on BNB Chain?
Binance Research said in a report on Tuesday that BNB Chain led with 1.8 million addresses holding tokenized stocks, 45% of the total. Binance is affiliated with BNB Chain and runs the bStocks product hosted on the network.
