The market value of tokenized stocks reached $5.5 billion, driven by the SpaceX IPO and the expansion of exchange operations

According to The Block, the market value of tokenized stocks has grown from $2.23 billion at the beginning of the year to $5.5 billion, an increase of approximately 147% over six months, making it the fourth largest category of RWA. This growth reflects a structural demand trend among crypto users wishing to enter the stock market, and exchanges are responding by directly embedding stock products into existing platforms.

Kraken and Bybit have decided to natively offer SpaceX IPO on their platforms, allowing users to participate in this highly anticipated private-to-public company transition without leaving the crypto ecosystem. Binance is also providing stock perpetual products for its non-U.S. users, reaching historically limited or high-threshold retail demand groups for access to the U.S. stock market. The SpaceX case particularly illustrates this market opportunity.

Access related to Pre-IPO and IPO has traditionally been limited to institutional relationships or secondary market brokers, and tokenization has significantly lowered this barrier. The continued growth of this category indicates that tokenized stocks are becoming a lasting product line, rather than a speculative footnote in the RWA narrative.