Tokenized stock trading shifts after hours as Solana and Ethereum RWA markets diverge
Tokenized equities reach billions in value with most trading occurring outside US market hours across Solana, BNB Chain, and Base.
Why it matters
The shift to after-hours trading suggests tokenized equities are being used for round-the-clock access rather than replicating regular session activity. Diverging growth rates across chains indicate fragmentation in RWA infrastructure, with Solana gaining share rapidly but Ethereum remaining dominant. Unverified market share claims and data discrepancies highlight the lack of standardized reporting for onchain asset metrics.
Where the sources disagree
Coinbase tokenized stock deposits in DeFi on Base
$262.4 million deployed in DeFi
Bitcoin Insider
$20.07 million deposited, $35.93 million total market cap
Bitcoin Insider
CryptoBriefing reports approximately $262.4 million deployed in DeFi protocols, while Coinfomania reports $20.07 million deposited with a total market cap of $35.93 million, both citing Token Terminal
BNB Chain tokenized stock market share claim
42.59% share, $1.47 billion per MSB Intel
Crypto.News
not independently confirmed vs RWA.xyz
Crypto.News
BNB Chain claims 42.59% share based on MSB Intel data, but this has not been independently confirmed against RWA.xyz or equivalent dataset
Key facts
Tokenized equities reached nearly $3.3 billion in value, increasing 15% over 30 days per RWA.xyz data
3,300,000,000 USDReported by Cointelegraph
Over 70% of tokenized stock trading volume on BNB Chain occurs outside regular US market hours
70 %Reported by Cointelegraph
63% of tokenized stock trading volume on Solana occurs outside regular US market hours
63 %Reported by Cointelegraph
Nearly 60% of tokenized stock trading volume on Base occurs outside regular US market hours
60 %Reported by Cointelegraph
Solana's RWA market grew from approximately $700 million to $4.3 billion over twelve months per Castle Labs
4,300,000,000 USDReported by Crypto News Flash
Ethereum's RWA market expanded from $15.5 billion to $16.6 billion over the same period per Castle Labs
16,600,000,000 USDReported by Crypto News Flash
BNB Chain claims 42.59% share of tokenized stock market with $1.47 billion in assets, surpassing Ethereum and Solana combined per MSB Intel
42.59 %Disputed figureReported by Crypto.News
Coinbase tokenized stocks on Base traded over $12 million on launch day and roughly $20 million per week since August launch per John D'Agostino
20,000,000 USDReported by Unchained
What happened
Tokenized stock markets have grown to several billion dollars across multiple blockchains, with trading activity concentrated outside traditional US exchange hours. Cointelegraph reported that over 70% of tokenized stock volume on BNB Chain, 63% on Solana, and nearly 60% on Base occurs after hours, citing Blockworks data via The Kobeissi Letter. RWA.xyz data showed tokenized equities up 15% in 30 days to nearly $3.3 billion. Solana's RWA market expanded from approximately $700 million to $4.3 billion over a year per Castle Labs, while Ethereum's grew from $15.5 billion to $16.6 billion. BNB Chain claimed a 42.59% market share with $1.47 billion in tokenized stocks, though this figure has not been independently confirmed against RWA.xyz. Coinbase's tokenized stocks on Base saw over $12 million traded on launch day and roughly $20 million weekly per John D'Agostino, while Binance's bStocks surpassed $1 billion in assets. A discrepancy exists between CryptoBriefing and Coinfomania on Coinbase tokenized stock deposits in DeFi on Base, both citing Token Terminal.
How the story developed
- First report
First report by Crypto News (CryptoNews.net)
Circle’s Tokenized Market Cap on BNB Chain Grows by $27.9M
- Update
Circle BNB Chain tokenized market cap growth reported
Crypto News reports $27.9 million increase over 30 days
- Update
Ethereum RWA market cap surge reported
Crypto News reports $553.1 million increase in 7 days
- Independent corroboration
Independently corroborated by Cointelegraph
Most tokenized stock trading on Solana, BNB Chain occurs outside US market hours
- Update
After-hours tokenized stock trading dominance reported
Cointelegraph cites Blockworks data showing majority of volume outside US hours on BNB Chain, Solana, Base
- Update
Solana RWA market sixfold growth reported
Castle Labs research shows increase from $700 million to $4.3 billion
- Correction
Coinbase tokenized stock DeFi deposit figures disputed
CryptoBriefing and Coinfomania publish sharply diverging figures both citing Token Terminal
- Update
BNB Chain claims 42.59% tokenized stock market share
BNB Chain cites MSB Intel data showing $1.47 billion in assets, exceeding Ethereum and Solana combined
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 9 Oct 2026, 21:44 UTC: Crypto News (CryptoNews.net) — 1 independent source, 1 reports
- 12 Oct 2026, 08:26 UTC: Crypto News (CryptoNews.net) — 2 independent sources, 2 reports
- 13 Oct 2026, 19:48 UTC: Cointelegraph — 3 independent sources, 3 reports
- 14 Oct 2026, 14:49 UTC: CoinDesk — 4 independent sources, 4 reports
- 16 Oct 2026, 06:45 UTC: Crypto News Flash — 5 independent sources, 5 reports
- 18 Oct 2026, 18:00 UTC: NewsBTC — 6 independent sources, 8 reports
- 19 Oct 2026, 10:02 UTC: Crypto.News — 7 independent sources, 10 reports
- 19 Oct 2026, 10:18 UTC: Chainwire — 8 independent sources, 11 reports
- 19 Oct 2026, 16:24 UTC: U.Today — 9 independent sources, 12 reports
- 22 Oct 2026, 00:30 UTC: Unchained — 10 independent sources, 14 reports
Affected entities
Also mentioned: Binance, Bitcoin, U.S. Securities and Exchange Commission, United States, Circle, Robinhood, United Arab Emirates
Original sources
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