One Year in, Ondo is leading tokenized stocks

A Year That Redefined Tokenized Equities

@Ondo is marking the first anniversary of Ondo Stocks, the protocol it launched in September 2025 to give non-US investors around-the-clock access to US equities on-chain. Twelve months on, the platform has moved well beyond proof-of-concept territory and established itself as the dominant force in a market that barely existed a year ago.

According to Crypto Briefing, Ondo Stocks launched in September 2025 with a straightforward pitch: let non-US investors mint and redeem tokens representing US equities, 24 hours a day. The protocol built institutional-grade settlement rails across @Solana, @Ethereum, and @BNBChain, enabling continuous equity exposure outside traditional market hours.

From $100M Market to Nearly $3B

The broader tokenized stock market has expanded sharply since Ondo entered it. Tokenized equities grew from roughly $2 million in distributed value in June 2025 to approximately $486 million by the end of Q1 2026, then ballooned to somewhere between $2 billion and $2.5 billion by mid-July 2026. The original copy notes the market has grown nearly 23x, from around $100M to close to $3B, as institutional and retail demand for on-chain equity exposure accelerates.

Ondo has led that charge. The tokenized stock market has quietly become a $2.3 billion sector, and one name sits comfortably at the top: Ondo Finance, which controls roughly 34% of the entire market's capitalization. Depending on which tracker is consulted, Ondo's share among dedicated equity tokenization issuers may actually be as high as 58 to 70%.

The first $1B milestone arrived in May 2026. The platform hit $1 billion in total value locked by May 2026, a milestone that took roughly eight months from launch. Tokenized stocks on Ondo Finance have also generated over $27 billion in cumulative trading volume to date.

Regulatory progress has accompanied the growth. Ondo Finance rolled out its first implementation of the SEC's third-party custodial tokenization model earlier this year, using BlackRock's IVV ETF and Micron shares as the initial securities. Ondo said it is the first production deployment of the SEC's custodial tokenization model, demonstrating that blockchain-based securities can fit within the current US regulatory and custody framework.

The wider RWA landscape is expanding in parallel. Of the roughly 300,000 new RWA wallets added across all categories in 2026, 74% came from tokenized stocks, suggesting that on-chain equities are becoming the primary entry point for new participants in the asset class. With Ondo holding the category lead on TVL, volume, and market share, its first anniversary arrives at a moment when the infrastructure it built is starting to look less like a niche experiment and more like a foundational layer for global equity access.

Sources:
Crypto Briefing: Ondo Finance leads tokenized stock market with 34% share
CoinDesk: Ondo Finance debuts SEC-aligned tokenized stock model
CEX.IO: 3 in 4 New RWA Wallets in 2026 Belong to Tokenized Stocks