Tokenized stocks and ETFs are expanding across decentralized finance (DeFi), with related deposits growing roughly 19-fold to $67.6 million and the number of tokenized stock holders rising 619.1% over 90 days to 3.6 million, according to Token Terminal data. Investors can use blockchain-based representations of stocks and ETFs as collateral for borrowing or provide liquidity without selling the underlying positions. BNB Chain led holder numbers with 1.5 million, followed by Robinhood Chain with 1.2 million and Solana with 647,500. Solana hosted most of the reported DeFi deposit activity, with $68.2 million in tokenized equity and ETF deposits as of August 11, 2026, compared with $15.5 million on Ethereum, $13.9 million on BNB Chain and $6.7 million on Robinhood's chain. Uniswap V4 held $59.1 million in tokenized stock TVL (total value locked), while Kamino Lend held $41.7 million. Robinhood's tokenized stocks generated roughly $73.1 million in DeFi deposits, compared with approximately $63.9 million for Backed Finance's xStocks, which represented 58% of tokenized stock deposits into DeFi and 86.5% of related lending TVL as of mid-August 2026. Token Terminal said distribution channels are rapidly becoming a key battleground for tokenized stocks. Across DeFi, tokenized real-world asset deposits rose from $2.3 billion to $7.4 billion year-over-year through the second quarter of 2026, while tokenized stock TVL reached approximately $192.6 million by early September. Continuous trading and fractional ownership remain key advantages over traditional equity markets.