According to Woofun AI, a Dune report reveals that the tokenized market is building trading rules independent of traditional finance rather than simply replicating them on-chain.

This structural difference is reflected in asset distribution and trading behavior, marking a fundamental shift in how on-chain financial assets operate.

As of August 31, the total valuation of tokenized real-world assets (RWA) climbed to $34.5 billion, a year-on-year increase of more than 140%.

Data compiled by Woofun AI shows that while cash equivalents still hold the top position, stocks have become the most actively traded category.

Notably, among tokenized spot stocks, single company shares account for as much as 81%, while exchange-traded funds (ETFs) make up only 19%, a sharp contrast to the traditional market's reliance on ETFs for diversified asset allocation.

Arman Cattri, head of the Ondo Finance ecosystem, pointed out that tokenization gives investors direct control over assets, freeing them from the constraints of local intermediaries.

However, data cited by Binance co-CEO Deng Weizheng shows that the market value of tokenized stocks was only $4.43 billion on September 15.

Although it grew 390% during 2026, its scale accounts for just 0.0029% of the global $151.9 trillion listed stock market.

Binance Research predicts that if technology and regulatory policies continue to advance, the market could reach $349 billion by 2030.

Regulatory breakthroughs are accelerating infrastructure improvements.

On September 17, the U.S. Securities and Exchange Commission (SEC) granted temporary permission allowing limited on-chain trading of certain tokenized U.S. listed stocks.

Meanwhile, the New York Stock Exchange (ICE.US) and Blockchain.com announced a partnership plan to offer tokenized U.S. stocks and ETF products through an upcoming digital trading platform, pending formal launch after obtaining regulatory authorization.