Tokenised equities hit their highest single-day trading volume on record this week, reaching $3.57 billion – a milestone that arrived alongside fresh data showing the broader real-world asset market has crossed $65 billion in total value.
The volume record, tracked by The Block , was driven largely by Binance and Hyperliquid, with additional contributions from platforms including Kraken's xStocks, Ondo, and Bitget. The timing coincides with Bloomberg reporting that the SEC is developing guidelines and a potential innovation exemption for onchain equity products – a development that could provide the regulatory clarity tokenised equity platforms have been seeking.
On a broader market view, total tokenised RWA value has risen approximately 44% since the start of 2026, with Ethereum holding roughly 33% of market share . Provenance Blockchain, a purpose-built financial services chain anchored by Figure Lending, commands around 27%, while BNB Chain, XRP Ledger, and Solana each hold around 6%. US Treasury products remain the largest tokenised asset category, followed by gold-backed commodities.
Into this market stepped NUVA, a new tokenisation platform launched this week by Anthony Moro, a former 22-year executive at BNY Mellon. NUVA launched with nearly $19 billion in tokenised assets – primarily home equity lines of credit and Treasuries from Figure Technologies – and counts Animoca Brands among its backers. Moro spent most of his BNY career in the American Depositary Receipt business, which gave foreign equities a pathway into US markets. His framing of tokenisation follows similar logic: new rails for assets that currently lack access infrastructure.
A Binance Research report published last week placed the wider opportunity in numbers. Distributed tokenised RWA value – assets freely transferable across wallets – has reached $31.4 billion, up from around $6 billion at the start of 2025. Against the roughly $300 trillion addressable market across major asset classes, current penetration sits at around 0.01%. Binance's base case puts the market at $1.6 trillion by 2030, still sub-1% aggregate penetration, while the optimistic case sits at $4.8 trillion.
The more concrete near-term catalyst is settlement infrastructure. DTCC has announced plans for limited production of tokenised securities activity in July 2026, with a broader launch in October. If that proceeds on schedule, tokenisation would shift from operating as a parallel system to becoming an optional setting within existing capital-market infrastructure – a materially different proposition from the one that has driven most of the market's growth so far.
