Participation is broadening fast: active addresses tied to tokenized stocks jumped from 1,609 to roughly 89,854 (≈56×). Drivers include 24/7 trading, simpler access, and improving U.S. policy signals aimed at bringing capital markets directly onto public blockchains.
ETH Leads, SOL Chases
Ethereum remains the anchor for asset tokenization: about $4.59B of the roughly $5.75B tokenized-assets universe sits on ETH, supported by mature tooling, custody, and compliance rails. Providers are listing across venues (e.g., via Kraken, Bybit, Jupiter), but liquidity gravity still favors ERC standards.
Solana advances on UX and throughput, yet net inflows into tokenized stocks lag. The SOL/ETH ratio has slid by about 50% since early 2025, touching a low for the past year—evidence institutions still prefer Ethereum for regulated issuance and settlement.
SOL/ETH at a yearly lowThe Prize If 1% Goes On-Chain
Analysts estimate that moving just 1% of global equities on-chain could unlock over $1.3T in tokenized value. That scale would harden Ethereum’s lead, give Solana a clearer wedge if liquidity accelerates, and push RWA, lending, and automated market making deeper into the mainstream.
What to Watch
- Liquidity & custody: Institutional wallets, KYC/AML, and oracle quality remain decisive for flows.
- Issuer pipelines: More blue-chips beyond TSLA/SPY are needed to deepen secondary markets.
- Solana’s path: Faster inflows plus standardized compliance rails could narrow the ETH gap.
Bottom line: Tokenized stocks are scaling. Ethereum leads on depth and standards; Solana’s upside hinges on fresh capital and regulator-ready infrastructure.