3 in 4 New RWA Wallets in 2026 Were Created for Tokenized Stocks

• Tokenized stocks showed a 114% surge in total value and a 188% increase in wallet base, becoming one of the best-performing RWA sectors in 2026
• Of the roughly 300,000 new RWA wallets added across all categories in 2026, 74% came from tokenized stocks.
• Average value per wallet in tokenized stocks sits at roughly $4,200, making it one of the most retail-oriented segments of the RWA market.

Despite a challenging market environment, demand for real-world assets continued to expand in the first half of 2026. While the broader crypto market lost 28% of its value and DeFi TVL fell by more than 25%, the RWA sector climbed over 40%, surpassing $32 billion.

Much of the sector’s momentum came from tokenized stocks. More than any other RWA category, they attracted new participants, emerging as the leading gateway for users entering the RWA ecosystem.

Tokenized Stocks Now Capture 40% of the Total RWA Wallet Base

At the start of 2026, tokenized stocks were a mid-tier RWA category. Around 122,000 wallets held them, and the market cap was only $691 million. Today the category has roughly 352,000 wallets and a market cap of $1.48 billion — up 188% and 114% respectively in under six months.&

This growth helped tokenized stocks become the single largest RWA category by wallet count, recently overtaking tokenized commodities such as gold and silver.&

Tokenized stocks now represent 40% of all RWA wallets, rising from 21% at the start of 2026. However, in terms of total value, tokenized stocks are still a relatively modest sector, with their share in RWA rising from 3% to 4.7% in 2026.

Overall, tokenized stocks have become a major driver of RWA adoption. Of the roughly 300,000 new RWA wallets added across all categories in 2026, 74% came from tokenized stocks. This suggests that for many newcomers, tokenized equities are becoming the preferred entry point into RWA.

Q2 2026 Is Already The Fastest-Growing Period For Tokenized Stocks

Throughout 2026, the growth of tokenized stocks continues to accelerate. In Q1, the sector added $280 million in market cap and around 80,000 wallets. However, by early June, Q2 has already surpassed both, adding roughly $511 million in market cap and approximately 149,000 new wallets.&

This means that nearly half (48%) of all tokenized stock wallets that exist today were created in this quarter. For reference, Q3 2025 was the previous high-water mark, driven by the launch of xStocks and Ondo’s tokenized equity expansion, but Q2 2026 outpaced that in absolute terms.

*Note: Q2 2026 growth as of June 10, 2026.

The Tokenized Stock Sector is Extremely Retail-Driven

Average value per wallet in tokenized stocks sits at roughly $4,300, making it one of the most retail-oriented segments of the RWA market. By comparison, tokenized gold averages around $21,250 per wallet, while U.S. Treasuries are closer to $225,000. Even traditional brokerage platforms report higher figures: Robinhood has roughly $12,500 per funded user, and Charles Schwab’s average account balance is around $260,000.

Taken together, these figures suggest that tokenized stocks are attracting a broad base of smaller investors who are primarily allocating relatively modest amounts of capital. Most likely, this is because tokenized stock adoption remains in its early stages.

On the growth side, Q2 alone has added roughly 149,000 new tokenized stock wallets. For reference, Webull, one of the fastest-growing US retail brokers, added around 80,000 funded accounts last quarter, meaning tokenized stocks nearly doubled that pace. In turn, Interactive Brokers, a much larger and more established platform, added roughly 350,000 accounts over the same period — about 2x more than tokenized stocks. The gap is still real, but the adoption velocity of a nascent onchain asset class is now in the same conversation as some of the most active players in traditional retail brokerage.

That said, wallet growth of tokenized stocks is currently outpacing value growth. Average per-wallet holdings may continue to drift lower as the base expands.

What’s Driving the Surge?

Three catalysts are primarily driving the current wave of tokenized equity demand.

1. The tech trade found a crypto-native home. Tech and crypto stocks have dominated market narratives for over a year. Some crypto-native investors wanted exposure but had no appetite to bridge back to a traditional brokerage, and tokenized equities solved that. The most popular holdings of tokenized stocks today read like a Robinhood top-movers list: NVDA, TSLA, AAPL, MSTR, and CRCL stocks, alongside S&P 500 and Nasdaq index trackers. It’s the same assets driving retail trading everywhere else, just accessible on-chain.
2. Private company access opened a door that was previously shut. Retail investors have never had a real path into pre-IPO companies like SpaceX, Anthropic, or leading private AI firms — those allocations go to institutions and insiders. Tokenized equity platforms tried to change that calculus. With SpaceX targeting a Nasdaq listing this Friday at a $1.75 trillion valuation, which would make it the largest IPO in history, and several major IPOs potentially coming this year, tokenized stocks in general saw increased attention and demand.
3. The broader tokenization of stocks is becoming infrastructure. This isn’t just a crypto-native trend anymore as companies like DTCC are aiming to bring tokenized treasuries, stocks, and ETF in 2026-2027. U.S. and Japanese banks are moving in the same direction, with several planning near-term product launches in tokenized deposits and equities. All of that normalizes tokenized stocks as an asset class, providing a boost to existing offerings.

What Could Come Next?

The sector’s market cap briefly reached a local high around $1.68 billion before pulling back slightly in mid-May in line with broader RWA trends. But the structural momentum hasn’t reversed. At the recent pace of approximately $50 million in new value per week, the $2 billion milestone looks achievable before year-end.&

As for the holder base, it currently shows no signs of slowing, suggesting that the sector may reach half a million of the total wallet base by the end of Q3 2026.

Overall, although the near-term demand picture looks solid, the bigger question is structural. As regulated institutional infrastructure matures, it could expand the total market for tokenized equities significantly. Alternatively, it could gradually pull demand away from crypto-native platforms as mainstream investors gain access through familiar channels. That tension — between crypto-native and TradFi rails for the same underlying assets — will likely define the next phase of this sector more than any single catalyst.

Sources

The data used for this research consists of publicly available information from RWA.xyz, CoinGecko, DeFiLlama, and Dune. Please note that wallet count is not the same as user count, as a single investor may control multiple wallets. However, wallet count remains one of the most consistently available and comparable measures of adoption across RWA categories. The observation period for this study was focused on tokenized stock performance in 2026, with data points ending June 10, 2026.

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