Ethereum tokenized stocks jump 28.6% to $1.85 billion, growing 40 times faster than Treasuries

Tokenized versions of stocks on Ethereum grew 28.6% over the past month to reach $1.85 billion, nearly 40 times the pace of tokenized U.S. Treasuries, which added just 0.74% to hold at $15.16 billion, according to on-chain data cited by COINOTAG.

The data suggests that investors are increasingly turning to blockchain-based equity exposure, even as demand for tokenized cash-equivalent products begins to stabilize.

According to market analysis from COINOTAG, the latest on-chain trends point to a gradual transition in the tokenization landscape, with Ethereum tokenized stocks and private credit increasingly driving sector growth instead of government debt instruments.

Ethereum tokenized stocks record faster adoption

The latest blockchain data indicates that Ethereum tokenized stocks are expanding at a pace nearly 40 times faster than tokenized Treasury products, a category that has dominated the real-world asset sector for the past two years.

Beyond asset growth, user activity also accelerated. Monthly transfer volume across tokenized stock products climbed 87% to $8.76 billion, while the number of wallet holders increased 24.5% to more than 443,000.

Rather than serving as yield-generating products, Ethereum tokenized stocks are increasingly functioning as blockchain-based investment tools that provide users with exposure to traditional equities without relying on conventional brokerage accounts.

COINOTAG noted that the increasing number of holders relative to assets under management suggests broader retail participation is entering the market.

“Tokenized equities expanded 28.6% over the past 30 days to reach $1.85 billion, while tokenized US Treasuries crept up just 0.74% to $15.16 billion.” — COINOTAG, Market Analysis

The report also highlighted that stock token growth reflects native on-chain issuance rather than duplicated asset wrappers, providing a clearer picture of genuine market expansion.

Private credit overtakes Treasuries in tokenized markets

While Ethereum tokenized stocks are gaining momentum, the largest tokenized real-world asset is neither a Treasury fund nor an equity product.

Instead, Figure Technologies’ home-equity token, which represents Home Equity Lines of Credit (HELOCs) issued on the Provenance blockchain, has become the sector’s largest tokenized asset.

The token reached approximately $20.1 billion on July 7 after adding around $730 million in just three weeks.

That valuation places it well ahead of the combined value of all tokenized U.S. Treasuries, which currently stand at $15.16 billion, while also exceeding the entire Ethereum tokenized stocks market by more than tenfold.

According to the report, the rise of private credit marks an important structural shift within tokenization markets.

“The token reached roughly $20.1 billion on July 7, climbing $730 million in just three weeks.” — COINOTAG, Market Analysis

The findings suggest that blockchain-based lending collateral is becoming a dominant force in tokenized finance, mirroring the role decentralized lending protocols previously played in expanding decentralized finance.

Stablecoin infrastructure quietly supports growth

Another notable trend identified in the report involves stablecoins, which continue to provide the settlement infrastructure supporting Ethereum tokenized stocks and other tokenized assets.

Rather than expanding solely through higher market capitalization, stablecoin liquidity is increasingly rotating across blockchain networks and issuers.

The report notes that this gradual redistribution reflects infrastructure maturity rather than speculative market activity.

Because fiat-backed and algorithmic stablecoins behave differently during periods of market stress, their movement between networks provides insight into where developers expect future tokenized financial products to emerge.

This steady migration has occurred without the sharp volatility typically associated with stablecoin headlines, reinforcing the view that the market’s underlying infrastructure continues to strengthen.

Ethereum tokenized stocks signal broader tokenization shift

Taken together, the latest figures suggest that Ethereum tokenized stocks are becoming one of the defining growth engines of blockchain-based finance.

While Treasury products continue to represent the largest category by value, analysts believe demand for tokenized cash products has matured, whereas demand for blockchain-based equity exposure continues to accelerate.

The report also noted that blockchain networks designed for compliant asset issuance—including Provenance and Algorand—are increasingly competing to host the next generation of tokenized assets.

“The direction is unambiguous even if the exact crossover point between equities and Treasuries remains months, not weeks, away.” — COINOTAG, Market Analysis

COINOTAG added that the industry’s center of gravity is gradually shifting away from government debt and toward Ethereum tokenized stocks alongside private credit.

The broader cryptocurrency market remains relatively cautious, with the Fear & Greed Index standing at 26 out of 100, Bitcoin dominance at 69.7%, and total crypto market capitalization hovering near $1.84 trillion.

According to the report, this combination indicates that while investor sentiment remains defensive, tokenization infrastructure continues to expand based on underlying adoption rather than speculative momentum.

If current trends persist, Ethereum tokenized stocks and on-chain private credit could become the primary beneficiaries when broader market risk appetite eventually strengthens.