Tokenized Wall Street Hits $345B as Exchanges Race to Keep the Lights On 24/7 🏦

Tokenized real-world assets have reached a distributed value of $26.71 billion and a represented asset value of $345.07 billion across the wider tokenization market, according to RWA.xyz data, as regulated tokenization pilots and consumer token products expand on both sides of the Atlantic. Robinhood EU now lists more than 2,000 stock tokens as derivative contracts linked to stocks and ETPs, and Kraken said its xStocks product reached 100 fully backed tokenized US stocks and ETFs and surpassed $25 billion in transaction volume since launching in June 2025. The Depository Trust & Clearing Corporation (DTCC) received SEC staff relief in December 2025 for a three-year tokenization service covering highly liquid DTC-custodied assets, including Russell 1000 constituents, major ETFs, and US Treasury bills, bonds, and notes. Nasdaq has filed a tokenized securities proposal that would let tokenized shares trade under the same CUSIP, order book priority, and investor rights as traditional shares.

"Beyond speed and higher trading frequency, tokenized securities can trade globally. More investors can access and invest in the same stocks, ETFs, Treasuries, or corporate bonds," said Anton Efimenko, Co-Founder and Lead Expert at 8Blocks, in comments to BeInCrypto. Edward Wu, Head of BloFin Research, told the outlet: "The real value is distribution, programmability, settlement efficiency, beyond 24/7 trading." BeInCrypto also spoke with representatives from Phemex and Zoomex on adoption paths and remaining limits on investor trust.

The institutional buildout is running alongside a separate push by major crypto exchanges into tokenized and synthetic equity products. OKX rolled out 13 new "X-Perp" markets for European traders this week, adding perpetual futures tied to "Magnificent 7" tech stocks, major commodity indices including gold, silver, and crude oil, and index funds such as the SPY and QQQ. Kraken has launched 24-hour perpetual futures for synthetic US stock tokens, offering non-US retail traders up to 20x leverage on equities outside standard Wall Street operating hours, and onchain perpetual platform Hyperliquid has moved into tokenized TradFi products.

Centralized exchange trading volumes fell more than 11% to $4.61 trillion, their lowest since late 2024, according to CoinDesk Data's April 2026 market reviews. "Retail participation across crypto has moderated, but the demand for trading has not disappeared," said Behrin Naidoo, founder of Neutral DeFi Protocol and a former J.P. Morgan, PwC, and RMH executive. The expansion brings tokenized US Treasuries, stocks, ETFs, and corporate bonds onto the same trading screens as $BTC and $ETH, with each venue's compliance, custody, and collateral framework now determining which products clear and which ones stall.