The inclusion of conventional financial assets into cryptocurrency exchanges has expanded significantly. In this respect, the pre-IPO perpetuals and tokenized equity markets have witnessed notable growth during 2026. CoinGecko ’s latest “TradFi on Crypto Exchanges Report” discloses the rapid expansion of digital asset entities beyond crypto assets through the provision of RWA exposure.
The report points out that crypto exchanges have swiftly broadened RWA listings, institutional-centered products, and trading volumes over the year. Thus, tokenized stocks, private market tools, and equity derivatives are getting wider accessibility via blockchain-powered platforms.
RWAs See 358 Listings Across Crypto Exchanges in Seventeen Months
The “ TradFi on Crypto Exchanges Report ” of CoinGecko reveals that cryptocurrency exchanges listed up to 358 RWAs across perpetual futures and spot markets within a period of 17 months. The respective offerings include TradFi instruments’ tokenized representations, letting consumers gain asset exposure beyond traditional cryptocurrencies.
Additionally, the Real World Asset (RWA)-linked perpetual futures have seen a noteworthy expansion, as trading volume reached $347B in May this year. This shows a 1,472x rise from $0.23B seen at 2025’s start. At the same time, exchanges have already processed more than $1.32T in the cumulative TradFi perps volume.
RWA Perps Hit $347B in Volume as Binance, MEXC, and Hyperliquid Dominate Market
Binance, MEXC, and Hyperliquid became the top crypto exchanges leading the wider market activity. Particularly, Binance processed up to $498.66B in the volume of TradFi perps over seventeen months. Additionally, its average 30-day market share surged from 24.6% to 35.9%. In the meantime, MEXC saw $323.86B, jumping from 21.7% to 22.8%.
Following that, Hyperliquid rose from 6.0% to 19.8% with $272.39B. Apart from that, the rising interest in RWA-based derivatives highlights the inclination of traders toward more diversified assets while utilizing accessibility and liquidity that crypto-native exchanges offer.
Tokenized Equity Perps Volume Surpasses 2025 Levels, With Nvidia, Tesla, and Micron Taking Lead
As per CoinGecko report findings, the tokenized equity perpetual markets have displayed significantly strong momentum during 2026. The cumulative trading volume that the tokenized equity perps generated throughout the year has surpassed the total volume witnessed in 2025.
So, across the leading 13 crypto exchanges , tokenized stocks spiked from $831.17M in July last year to $34.00B in May this year, expressing a 40x growth. Nvidia and Tesla became the top traded stocks, while AI-relevant equities such as Micron, which witnessed a 17x rise from $736.21M to $13.16B, also gained attention.
SpaceX Becomes Top Traded Pre-IPO Market as Monthly Volume Reaches $305M in May 2026
Perpetuals trading also surged across the prominent exchanges, with the total trading volumes presenting a 1,059.26% increase from $60.51M to $701.44M. Specifically, SpaceX Pre-IPO perpetuals recorded the peak monthly trading volume of $305M, with a 43.55% dominance, before its Nasdaq listing. Together, the respective three pre-IPO contracts accounted for 95.62% of the overall monthly volume of May.
SpaceX Pre-IPO Prices Settle at 4.67% Increase after Fluctuation between $155 and $170
CoinGecko’s report highlights that, though $SPCX perpetuals continued to trade at nearly $170 on crypto exchanges like WEEX and Binance, other exchanges like OKX, Gate, and Coinbase accounted for $155. Nonetheless, pre-IPO prices across the leading exchanges gradually started to converge within the $160-$165 range as of June 10 amid the public disclosure of the IPO information.
Therefore, within a couple of days ahead of listing, prices steadily surpassed the $180 mark on the leading exchanges. Then, pre-IPO prices reportedly closed at $157 on average, showing a 4.67% rise from the opening $150 level.
