Tokenized stock holders climbed to 1.31 million over the past month as transfer volume jumped 179% to $23.13 billion, monthly active addresses rose 34.62% to roughly 572,000 and distributed value increased 5.9% to $2.38 billion, RWA.xyz data shows. Ondo led the sector with about $872 million in distributed value, ahead of Kraken's xStocks at $557.8 million and Binance's bStocks at $521.8 million, highlighting intensifying competition after bStocks launched in June and quickly narrowed the gap with xStocks. The much faster growth in transfer activity than in distributed value points to frequent rotation among products rather than purely long-term accumulation. The expansion follows a broader push into private-market and pre-IPO products, including SpaceX-linked offerings that drew strong demand but also exposed settlement constraints when some campaigns were canceled after xStocks could not source enough underlying shares. Even so, tokenized SpaceX shares on Binance's bStocks reached $67.9 million in distributed value, ranking seventh among assets tracked by RWA.xyz. Standard Chartered has projected tokenized real-world assets could become a $4 trillion market by the end of 2028, leaving investors to watch whether issuers can improve allocation reliability and sustain activity after event-driven surges.