Trading volumes tell the bigger storyJune 2026 saw spot trading volumes in onchain tokenized equities surge past $3.8 billion. A concentrated market with familiar namesThe tokenized stock ecosystem is still dominated by a handful of issuers. Why non-US demand is fueling the boomA significant portion of the demand for tokenized stocks is coming from outside the United States. Even at $4 billion, tokenized equities would represent a fraction of a fraction of that total. For crypto-native investors, tokenized stocks represent a bridge between DeFi yields and traditional equity exposure.