Ondo and xStocks dominate over 80% of the emerging segment.

The volume of tokenized stocks on the blockchain has exceeded $1 billion. The RWA sector is rapidly expanding due to an influx of liquidity.

Source: RWA.xyz.

The segment is led by two projects: Ondo controls about 58.74% of the market, while xStocks holds 23.8%.

Investment partner at Foresight Ventures, Alice Lee, explained the success of these leaders is due to their well-structured architecture. These platforms initially focused on regulatory compliance across various jurisdictions, stable liquidity, and seamless integration with DeFi protocols.

Co-founder of RWA.io, Marco Vidrich, noted the rapid growth of this niche: in just one year, the market capitalization of tokenized stocks skyrocketed by 2900%. Key growth drivers included the launch of major platforms, clear regulations, and product accessibility for retail investors.

Capital concentration is typical in the industry: according to DeFiLlama founder 0xngmi, in sectors such as stablecoins, derivatives, and decentralized exchanges, most revenue is also captured by the top two protocols.

In many DeFi sectors, almost all revenue is captured by the top 2 market participants; basically, most crypto verticals are turning into duopolies.

Credit to @joeljohn (based on DeFiLlama data) pic.twitter.com/SEihYVEnfj

— 0xngmi (@0xngmi) March 6, 2026

Alongside stocks, the entire RWA sector is growing. The total value of tokenized assets, excluding stablecoins, has reached $26 billion, with $11.13 billion attributed to U.S. Treasury bonds.

Trader activity is also on the rise. Since the partnership between 1inch and Ondo began, the trading volume of tokenized stocks and ETFs through their joint integration has surpassed $2.5 billion.

Recall that in February, the trading volume of tokenized stocks on xStocks reached $25 billion.