The total market capitalization of tokenized stocks— on-chain representations of public equities like Tesla, Apple, Amazon, etc has hit a record all-time high of $1.2 billion, driven by strong growth in September and December.
This milestone comes from surges in institutional adoption, new product launches like Backed Finance’s xStocks on Ethereum, and improved liquidity across chains like Ethereum, Solana, and others. The comparison to stablecoins in 2020 is a common one in the industry right now.
At the start of 2020, the total stablecoin market cap was around $5 billion mostly niche tools for crypto traders. By the end of 2020 and into the 2021 bull run, it exploded, peaking above $180 billion at one point before stabilizing.
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Today (2025), stablecoins sit at roughly $300–310 billion, forming the backbone of crypto liquidity and DeFi. Tokenized stocks are seen as being in a similar “early infancy” phase: small but rapidly scaling, with benefits like 24/7 trading, fractional ownership, and seamless bridging of traditional finance (TradFi) to blockchain.
Analysts and platforms like Token Terminal explicitly draw this parallel, noting that tokenized equities could follow a similar trajectory to become core infrastructure for global markets—especially with big players like Nasdaq, Ondo Finance, and others pushing for more on-chain equities in 2026.
It’s an exciting development in the broader Real World Assets (RWA) space, where tokenized stocks have outperformed other categories which is up ~2,695% YTD in some metrics. If the stablecoin analogy holds, this $1.2B could be just the beginning.
Tokenized Real Estate Trends
Tokenized real estate—representing fractional ownership of physical properties like residential, commercial, or developments via blockchain tokens—continues to grow steadily within the broader Real World Assets (RWA) category.
While not exploding as rapidly as tokenized stocks which hit a record $1.2 billion market cap this month, it’s establishing itself as a key pillar for institutional and retail investors seeking yield-bearing, tangible assets.
The on-chain tokenized real estate segment is estimated at $10–20 billion in 2025, part of the overall public blockchain RWA market ~$18–34 billion total RWAs, depending on trackers like RWA.xyz and industry reports.
This represents significant growth from ~$3–4 billion in prior years, driven by fractional ownership models and DeFi integrations. Conservative estimates peg the dedicated tokenized real estate market at $3–10 billion today, with aggressive forecasts eyeing $4 trillion by 2035 through institutional adoption.
Year-over-year, RWAs including real estate have surged ~300–400%, with real estate benefiting from automated rental yields and secondary market liquidity. Compared to tokenized stocks’ recent ATH, real estate tokenization is more mature in yield generation but lags in pure speculative volume.
Fractional Ownership Democratization
Investors can buy into properties starting at $50–1,000, earning proportional rental income in stablecoins. This has attracted global retail participation, especially in U.S. residential/multifamily units. Major players like BlackRock, Kin Capital, and platforms in the UAE/Dubai are scaling commercial tokenizations.
EU’s MiCA treats many as utility tokens; U.S. executive actions open alternatives to broader investors; emerging markets signal mainstream integration. Emerging markets are leading tangible asset tokenization for liquidity in illiquid economies.
Platforms now enable 24/7 trading, AMMs, and DeFi composability using tokens as collateral. This addresses past criticisms of low liquidity. Tokenized real estate emphasizes stable rental yields often 8–15% APY vs. volatile price appreciation, making it a “stablecoin-like” haven in RWAs.
Analysts from Bitfinex, and Deloitte predict acceleration, especially in emerging markets and ESG-linked properties. With RWAs tripling in 2025, tokenized real estate could capture more institutional flows as liquidity matures—potentially mirroring stablecoins’ path but with real yield.
It’s still early <<1% of global ~$400T real estate tokenized, but 2025 marked the shift from pilots to scalable, compliant ecosystems. Exciting for diversified, income-focused portfolios.