Tokenized Stocks Boom, but Three Players Control 78% of Volume

Token Terminal reports $64.6 billion in cumulative tokenized stock DEX trading volume, with activity accelerating in 2026. Three product categories account for approximately 78% of turnover, leaving the market heavily concentrated. NYSE and DTCC are developing regulated securities infrastructure, but their initiatives differ fundamentally from trading on public decentralized exchanges. Tokenized stocks have generated $64.6 billion in cumulative decentralized exchange trading volume over three years, according to Token Terminal data , with nearly four-fifths of the activity concentrated in just three product categories.