Ondo’s tokenized stock lead shrinks as Binance, Robinhood gain ground: DWF Labs

Ondo Finance’s dominance of the tokenized equities market has narrowed, with its share sliding from 56% to 26% between early January and the week of Oct. 5 as new entrants such as Binance and Robinhood attracted users and capital, according to new research from DWF Labs. An early mover in institutional real-world asset tokenization, Ondo still led the market with about $1 billion in value during the period, while the sector’s total market value climbed 483% to $3.8 billion. Binance’s bStocks, which recently hit $1 billion in assets under management, grew to $905 million and captured 24% of the tokenized stock market, the report reveals. Robinhood’s tokenized equities increased from $20 million following their July launch to $170 million. Meanwhile, Securitize reached $290 million, accounting for 8% of the market, while xStocks grew from $187 million to $954 million and maintained a 25% share. The report notes that Ethereum’s early lead in tokenized equities has weakened as issuers have expanded into competing networks. Its share declined from 50% at the start of the year to 22% in October, while BNB Chain increased from 9% to 32%. Binance’s entry also strengthened BNB Chain, where ...