Tokenized stocks generated $15.9 billion in decentralized exchange (DEX) volume over the reported 90-day period, with their share of DEX spot trading rising from roughly 0.1% at the end of 2025 to more than 4% in 2026. QQQb, a blockchain-based mirror of Invesco's QQQ ETF and part of BTECH Holdings Limited's bStocks family, recorded roughly $1.7 billion in DEX volume in the 30 days ending August 31, 2026, exceeding SPCXb's approximately $849 million and SPYb's roughly $645 million. A separate 12-month measure through late August put QQQb's volume at $3.6 billion. Solana led a June 24 record day with $553.3 million, or 97.8%, of the $565 million total, while BNB Chain's bStocks generated around $5.6 billion and Robinhood Chain emerged as another venue. Binance incentives, including zero maker fees through August 2026 and VIP-tier multipliers, supported QQQb activity, although low net demand means market makers, arbitrageurs and potentially wash trading may account for a meaningful share of headline volume.