Tokenized stocks, blockchain-based representations of traditional equities and ETFs, have expanded to roughly $2.8 billion across 3,374 assets. The market crossed $1 billion around March 2026, roughly doubled by mid-July and has continued climbing after measuring only hundreds of millions in early 2025. Ethereum holds 49% of the market, followed by Solana at 23% and BNB Chain at 22%, giving the three networks a combined 94% share. BNB Chain has previously maintained more than 30% market share, helped by low transaction fees that suit smaller retail positions. Ondo leads platforms with nearly $871 million in distributed value, ahead of xStocks at around $571 million and bStocks at approximately $567 million. The market includes exposure to Circle Internet Group, SpaceX, Micron, SPY and IVV. Monthly transfer volumes have exceeded $22 billion to $25 billion, and the holder count is above one million. The structure generally involves a custodian holding real shares and issuing corresponding tokens on-chain. These tokens track the underlying equity and may pass through dividends, while enabling 24/7 transfers, settlement in minutes and fractional purchases such as $10 of exposure. Because the tokens are backed by actual securities, they differ in risk profile from synthetic exposure or derivatives such as perpetual futures contracts.