Tokenized Equities Hit $3.57B Daily Volume ATH as SEC Moves Toward Innovation Exemption!

Tokenized equities set a new all-time high on Monday, with $3.57 billion in daily trading volume according to The Block's data — the peak of a month-long climb in weekly volumes through April. The milestone signals that onchain equity trading has crossed from niche experiment into a market structure story worth watching.

Binance and Hyperliquid are driving the bulk of that volume, with Kraken's xStocks, Ondo, and Bitget also contributing to cumulative onchain equities volumes now running into the billions. The breadth of platforms involved suggests the demand is structural rather than concentrated in a single venue.

The timing of the ATH coincides with a significant regulatory development: Bloomberg reported Monday that the SEC is actively drafting guidelines and an innovation exemption for the onchain equities ecosystem. That exemption would let traditional institutions experiment…