More leading financial institutions are building onchain 9 of the world’s 20 largest asset managers now have tokenized funds listed on Token Terminal With large existing AUM and client bases, these firms can rapidly accelerate onchain adoption

Tokenized stock spot trading volume on Uniswap on Base has reached ~$130M in September so far, already above August’s ~$95M The largest contributors this month: NVDAc ($43.0M), wtCOIN ($16.5M), SPCXc ($12.7M), and AAPLc ($12.4M)

An underappreciated change in onchain market dynamics vs. a few years ago: Crypto-native tokens often took years to become interesting financial assets because the businesses they were tied to had to be built from zero Tokenized stocks bring 10,000+ established businesses onchain from day one, with assets that can be made composable across DeFi Multiple issuers will compete to bring these assets onchain, while DeFi venues compete to make them tradable, lendable, and usable as collateral A lot of new onchain financial activity can emerge much faster as a result, to the benefit of the underlying chains

Tokenized stocks generated $20.9B in DEX trading volume over the past 30 days Uniswap v4 led with 40.7% market share, followed by v3 at 19.4% Together, the two versions accounted for 60.1% of the total, or ~$12.6B

Might have a bit of speculation involved but really think $UNI will be a major beta play in the market. As of 2026 they have a model similar to a buy-and-burn program. It remains the top dex available which together with the increase of onchain stock trading should only mean the next logical path is up. Chart could easily suggest and show a multi-year-accumulation which will be easy in hindsight. Never have held much UNI in my trading history personally but the arguments today to do so are getting stronger imo.

One of the clearest charts showing why every business building onchain finance needs an RWA strategy in 2026 ethereum:0x1f9840a85d5af5bf1d1762f925bdaddc4201f984 price development since the launch of Robinhood Chain, where @Uniswap is the leading stock token trading venue 👇

COINBASE’S TOKENIZED STOCKS HAVE ALREADY TRADED ABOUT $1.4B ON BASE Token Terminal’s chart shows the trading side gaining traction. Now seven of those stocks can also back USDC loans on Aave. Coinbase is building a market where stocks can be traded and used as collateral around the clock. The lending side has only just opened.

The new business line to watch for Coinbase: Tokenized stocks Tokenized stock trading generates transaction fee revenue for Coinbase today, while securities lending income & DEX trading fees represent potential future revenue sources

The user experience around tokenized stocks today is the worst it will ever be It’s already good enough to attract 4.4M asset holders, but there is still a lot to improve: more stocks to choose from, deeper liquidity, clearer legal and economic structures, better user interfaces, and more ways to use these assets across onchain markets Meanwhile, tokenized stocks remain a tiny part of the $150T+ global public equity market A very large existing market, rapidly growing adoption, and underlying technology that keeps getting better That’s an unusual combination

The Bezos of 1994 saw the Internet taking off and chose books as the first product to build around it If Bezos were starting today, we think he’d look at asset tokenization on blockchains taking off and choose to tokenize stocks first The logic is similar The Internet didn’t change the underlying book. It changed the experience around it: access to a vastly larger catalog, 24/7 availability, and better search and discovery Tokenization doesn’t change the underlying stock. It changes the experience around it: broader global access, 24/7 trading and transfers, and interoperability across trading, lending, and collateral markets In both cases, the underlying product stays the same while a new technological substrate creates room for customer-facing differentiation Public equities are one of the world’s largest asset classes, yet only $2.8B (excl. ETFs) is represented onchain today That’s the type of opportunity Bezos repeatedly looked for: a huge existing market where a new technology can create a better customer experience, with the potential to reach massive scale Books were Amazon’s entry point into Internet commerce We think stocks could be the equivalent entry point into onchain finance

Tokenized stocks generated $20.9B in DEX trading volume over the past 30 days Uniswap v4 led with 40.7% market share, followed by v3 at 19.4% Together, the two versions accounted for 60.1% of the total, or ~$12.6B

The Bezos of 1994 saw the Internet taking off and chose books as the first product to build around it If Bezos were starting today, we think he’d look at asset tokenization on blockchains taking off and choose to tokenize stocks first The logic is similar The Internet didn’t change the underlying book. It changed the experience around it: access to a vastly larger catalog, 24/7 availability, and better search and discovery Tokenization doesn’t change the underlying stock. It changes the experience around it: broader global access, 24/7 trading and transfers, and interoperability across trading, lending, and collateral markets In both cases, the underlying product stays the same while a new technological substrate creates room for customer-facing differentiation Public equities are one of the world’s largest asset classes, yet only $2.8B (excl. ETFs) is represented onchain today That’s the type of opportunity Bezos repeatedly looked for: a huge existing market where a new technology can create a better customer experience, with the potential to reach massive scale Books were Amazon’s entry point into Internet commerce We think stocks could be the equivalent entry point into onchain finance