Tokenized real-world assets excluding stablecoins more than doubled over the past year to $31.5 billion as of August 2026, according to Dune data covering 3,000 products across 21 blockchains, while tokenized equities became a rapidly expanding decentralized-exchange trading segment. Fixed income, led by U.S. Treasuries, remains the largest asset class by value, but equities grew from $61 million to $2.47 billion and their holder base more than doubled in one quarter. Tokenized stocks rose from roughly 0.1% of DEX spot volume a year earlier to more than 4% year-to-date, with DEX trading volume reaching $7.8 billion in the third quarter. Uniswap recorded a $325.2 million week-over-week volume increase across v3 and v4, while Uniswap v4 and PancakeSwap v3 together represented about $5.2 billion of quarterly volume. Much of the activity runs through Robinhood Chain, an Arbitrum-based Layer 2 launched in July 2026, where Uniswap stock-token volume crossed $1 billion and v4 held about 73% of related liquidity; Robinhood describes the tokens as debt securities that track underlying equities economically without conferring ownership or voting rights. The growth spans both spot tokenized equities and synthetic RWA perpetuals, although issuer, transfer, liquidity and redemption constraints remain.