Tokenized stocks and commodities have reached peak valuations, driven by a combination of increasing token supply and rising market prices. While stocks and commodities still represent the smallest class in tokenized RWAs, they have been experiencing significant growth in recent months.
Based on data from Token Terminal, tokenized stocks and commodities have reached their peak valuations in 2025. Asset tokenization continues to be a major growth narrative, with more platforms looking to introduce their own standards for tokenizing stocks.
In December, tokenized commodities reached a total value of $3.7 billion, largely driven by the performance of gold. Tokenized stocks, on the other hand, hover around $808 million. The growth of tokenized commodities is primarily fueled by Tether’s gold-backed tokens, which have set the industry standard for gold reserves.
Despite the recent surge in the value of silver, there is still a lack of representation of this precious metal among tokenized assets.
Tokenized stocks have emerged as a new trend, experiencing rapid growth in recent months. | Source: Token Terminal
Accounting for tokenized stocks can be challenging due to the existence of multiple standards and platforms. Ondo reports approximately $368 million in tokenized stocks, while XStocks reports around $300 million in tokens, excluding the market cap of Chainlink (LINK).
While various approaches to tokenization exist in other markets, Ondo and XStocks have emerged as industry leaders in tokenized shares in 2025.
Tokenized stocks attracting a broader investor base
Tokenized stocks are witnessing record adoption, driven by the increasing number of new wallets entering the market. While stablecoins remain dominant in tokenized RWAs, more wallets are diversifying into commodities, stocks, funds, and private credit.
The ownership of tokenized stocks has grown in 2025, alongside the increasing adoption of tokenized commodities. | Source: RWA.xyz
The year 2025 has witnessed a rapid expansion in the ownership of various tokenized asset classes, with the number of wallet owners surpassing 571,000. While still a fraction of legacy stablecoin holders, tokenization is proving to be a sustained trend with a growing infrastructure.
XStocks addressing bridging challenges
One of the key challenges in stock tokenization is how corporate events like splits and dividends are reflected on the blockchain.
XStocks recently introduced XBridge, a solution that enables seamless transfer of stocks between Solana and Ethereum. While simple tokens are bridged daily, tokenized stock bridging presents complexities due to the different methods of reflecting corporate events.
Introducing the xBridge
xStocks can now move freely across chains. With @chainlink’s CCIP as its cross-chain infra, the xBridge connects Solana to Ethereum and more, the first bridge to preserve rebasing for tokenized equities.
The future is open, composable, and omnichain. pic.twitter.com/x1zD436500
— xStocks (@xStocksFi) December 12, 2025
The introduction of the bridge marks the initial step towards launching XStocks on multiple chains while maintaining the precise value and features of each tokenized share.
Tokenized stocks are playing a significant role in driving adoption of Solana. Stock tokenization has emerged as the fastest-growing asset on Solana, surpassing previous stars like meme tokens. Competition is also intensifying from other platforms, such as Robinhood’s stock tokenization on Arbitrum. Overall, tokenized stocks are gaining popularity after a period of speculation on tokens lacking intrinsic value.
Stock tokenization is also providing international traders with easier access to US equities. In 2025, international investors are seeking to capitalize on the growth of US companies, leading to debates on the legal status of tokenized assets.
While some tokenized stocks are permissionless, others are linked to fully verified KYC accounts on centralized exchanges.
