Onchain trading volume in tokenized stocks and exchange-traded funds topped $37 billion in the third quarter, an 18-fold jump since January, according to a report from Dune Analytics. The tally spans more than 200 trading venues across 12 different blockchains, including crypto exchange OKX and a tokenized-stock venue run by Intercontinental Exchange.
A new regulatory green light
The growth comes after the Securities and Exchange Commission opened a regulatory pathway in September for tokenized American stocks to trade through blockchain networks, giving platforms a clearer legal basis to offer blockchain-based versions of US equities. That shift has encouraged both established exchanges and crypto-native platforms to expand tokenized trading offerings, feeding the jump in volume Dune tracked over the quarter.
