BNB Chain has become the first blockchain to cross $1 billion in tokenized stocks and exchange-traded funds (ETFs).
The market capitalization of the tokenized stocks and ETFs rose around 17% to $3.35 billion in September from $2.87 billion in August, according to Token Terminal data.
The sector’s market cap on BNB Chain stood at $1.1 billion at the time of publication, accounting for roughly 30% of the $3.7 billion market, followed by Ethereum at $828 million, or 22%, and Solana at $738 million, or 20%.
BNB Chain also led with 1.8 million addresses holding tokenized stocks, accounting for 45% of the total, Binance Research said in a report on Tuesday. The network hosts products including Binance bStocks and Ondo Global Markets tokenized securities.
Tokenized stocks and ETFs have grown more than fivefold from $719 million in January, when Ethereum accounted for about 48% of the market, Solana 31% and BNB Chain just 13%, according to Token Terminal data.
Related: Tokenized assets don’t always mirror traditional markets, Dune finds
