Tokenized Stocks Hit $4B as Usage Race Overtakes Minting
The headline number is the 314% YTD cap jump, but the more durable signal is consolidation: bStocks and Robinhood now run 87.8% of tracked issuer volume after holding 0.8% three months ago.
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The headline number is the 314% YTD cap jump, but the more durable signal is consolidation: bStocks and Robinhood now run 87.8% of tracked issuer volume after holding 0.8% three months ago.
BTC's weakness may be driven less by crypto-native factors than by concentrated flows into AI, semis and defense themes — historically, BTC bottoms within weeks once that concentration fades.
Three of the four indicators are structural rather than cyclical — illiquid supply above 60%, exchange balances down to 15%, SLRV at multi-year lows — so any near-term move is more likely to be met…
Binance Research frames the share as small, but the absolute stock of laundered funds keeps growing — and the bottleneck is now mixer capacity, not just tracing.