Tokenized stocks (digital representations of equity exposure) reached an all-time-high onchain market capitalization of $3.1 billion, according to Token Terminal data, representing growth of 113,876.7 percent from earlier levels. BNB Chain leads the network rankings with $1.0 billion, or 32.7 percent of the market, followed by Ethereum at $770.1 million and Solana at $715.9 million. Avalanche and Arbitrum One each account for 6.2 percent, while Robinhood Chain holds 4.6 percent. The market expanded from near zero at the start of 2024, with most growth occurring during 2025 and 2026. Across 23 issuers, Ondo Finance has the largest share at $946.8 million, followed by xStocks at $692.7 million and Binance bStocks at $678.2 million. Exchange-traded funds are the largest underlying-asset category at $647.4 million, while the Other category spans approximately $2.1 billion across 3,535 assets. The expansion comes as institutional and retail interest increases and regulatory discussions develop around blockchain-based securities. Ondo Finance has commented to the U.S. Securities and Exchange Commission on proposed changes to Regulation NMS rules affecting tokenized securities and blockchain-based trading infrastructure. Separately, Crypto.com launched tokenized stocks for eligible users in the European Economic Area and other approved jurisdictions on August 12, offering exposure to approximately 1,500 U.S. stocks and ETFs with access starting at $1.