Tokenized shares approach $3 billion weekly volume

The trading volume in tokenized stocks is reaching new records. According to Grayscale, the weekly spot volume peaked at around $3 billion in August, while only about 5% of the market is actually deployed in onchain financial applications. This points to a significant gap between the growth in trading and the use of these assets as productive financial instruments on the blockchain.

In brief:

• The weekly spot volume of tokenized stocks peaked at nearly $3 billion in August
• Only 5% of the market is used in onchain finance, such as lending and collateral
• More regulation in the US could further open up the market, according to Grayscale

Solana and Robinhood Chain dominate trading volume

Most of the trading activity in tokenized stocks currently takes place on Robinhood Chain, BNB Chain and Solana. This is according to the report by Grayscale. At the time of writing, Solana is trading at $102, down 1.5% over the past 24 hours.

Tokenized stocks make it possible to trade securities linked to publicly listed companies continuously and globally, outside of the regular exchanges. That has also drawn criticism: the CEO of AMC previously criticised Robinhood for offering such products.

Use in onchain finance is growing, but remains small

Although trading volume is rising sharply, the use of tokenized stocks as collateral or in lending protocols is still limited. Grayscale notes that lending through protocols such as Kamino and Jupiter on Solana has grown roughly tenfold over the past year. Still, lending, collateral and other financial applications continue to make up only a small part of the total market.

The chart from Allium and Grayscale, with data through 27 August 2026, shows that the total value locked in onchain applications for tokenized stocks is now approaching $100 million. Raydium on Solana and Kamino are the largest individual protocols by value locked.

Regulation as the key to further growth

Grayscale argues that greater clarity from US regulators could open the market up further. At present, tokenized stocks mainly function as a trading product for an international audience that wants to deal outside regular market hours. With better regulation, these products could grow into full-fledged financial instruments within the broader DeFi ecosystem.

The regulatory development follows broader movements in the US. For instance, a sheriffs’ association earlier withdrew its opposition to the Clarity Act, legislation designed to provide greater clarity on digital assets. Robinhood Chain, one of the largest platforms for tokenized stocks, had earlier also been hit by an outage lasting six minutes.