Source: Fortune
Summary
A new report from Dune shows that tokenized assets have surpassed $34 billion in value in 2026, with tokenized stocks growing over 2,000% and exceeding one million active holders. On-chain investors are trading individual stocks 24/7 and using private credit tokens in decentralized lending, rather than replicating traditional financial products. Dune CEO Frederik Haga said the on-chain market operates differently, with distinct trading behaviors. Institutional adoption has accelerated, with firms like BlackRock and Franklin Templeton creating tokenized funds. Nasdaq also invested $100 million in Payward to expand tokenized stocks.
Our Reading
The numbers tell one story.
Tokenized assets hit $34 billion in 2026.
Stocks grew 2,000% with over a million holders.
Investors trade individual stocks, not funds.
Private credit outperforms Treasuries in lending.
Wall Street’s index focus contrasts with on-chain individualism.
Author: Evan Null
Tokenization Takes Off
Tokenization has grown beyond expectations, with on-chain investors building a 24/7 financial system. Dune’s report shows that tokenized assets have reached $34 billion in 2026, with tokenized stocks leading the charge. The growth of tokenized stocks has been explosive, with over 2,000% increase and more than a million active holders. This indicates a shift in how investors are engaging with digital assets.
Wall Street Meets Blockchain
Traditional financial institutions are now embracing tokenization. Firms like Franklin Templeton and BlackRock have created tokenized government money-market and Treasury funds. This marks a significant step in the integration of blockchain technology into mainstream finance. The move signals a growing acceptance of digital assets as a viable investment option.
Investors Prefer Individual Stocks
On-chain, investors are favoring individual stocks over funds. Dune estimates that 81% of tokenized equities are individual stocks, which have grown ninefold in value over the past year. This trend highlights a preference for direct ownership and active trading, as opposed to the passive index investing common in traditional markets.
Private Credit Outperforms Treasuries
In decentralized lending, tokenized private credit is more popular than tokenized Treasuries. Dune found that credit assets make up three-quarters of all real-world assets deposited in lending. This is due in part to the higher yields offered by private credit, which allows investors to earn interest and use assets as collateral for other trades.
Regulatory and Market Shifts
The SEC has opened a limited path for U.S. venues to test blockchain-based equity trading. This development signals a growing regulatory interest in tokenized assets. Meanwhile, Nasdaq has invested $100 million in Payward to expand tokenized stocks. These moves indicate a broader shift in how financial markets are evolving with the rise of blockchain technology.
