Tokenized stock market value surged to $1.7 billion by June, a fivefold increase from $329 million the previous year, driven primarily by fresh asset issuances rather than price appreciation, according to data from a16zcrypto.
Shift in Market Composition
The structure of tokenized stocks has notably shifted over the past year. Crypto-related tokenized assets, which once accounted for 79% of market capitalization, have dropped to just 21%. In contrast, traditional equities, particularly those linked to semiconductor and memory chip manufacturers, have expanded their share.
The emerging "other" category, encompassing numerous smaller listings, now represents 35% of the market, up from 15% a year earlier, reflecting diversification beyond the initial crypto focus.
AI and Chip Stocks Leading Expansion
The fastest-growing segment within tokenized stocks is comprised of AI and chip companies. Their share jumped from a mere 0.3% to 15.5% over twelve months. Tokenized market caps for Micron (MU) and SanDisk (SNDK) stand at approximately $120 million and $102 million respectively, surpassing tokenized Nvidia (NVDA) holdings, which combine to about $85 million as per CoinGecko data.
This distribution leans towards memory and storage components rather than computing units, indicating traders’ preference to gain exposure across broader AI hardware sectors rather than focusing solely on GPU manufacturers.
The trend signifies tokenized stocks are evolving from their crypto-centric origins and embracing traditional equity models. The continuation of this growth trajectory will likely depend on ongoing issuance activity.
