Tokenized stocks reach $20.9bn in 30-day DEX volume as Uniswap leads
Tokenised equities traded $20.9bn on decentralised exchanges in 30 days, with Uniswap taking about 60%, according to Token Terminal data reported by Bitcoin.com News.
Key points
- Tokenised stocks generated $20.9bn in DEX volume over the past 30 days, per Token Terminal.
- Uniswap v4 held a 40.7% share and Uniswap v3 19.4%, about $12.6bn combined.
- Sentora found each $1 in Uniswap v4 supported $13.70 of volume, against $8.70 on v3 and $1.90 on Curve.
- Tokenised stocks have about 4.4 million asset holders, small against a global public-equity market of over $150tn.
- Backpack CEO Armani Ferrante wants to bring roughly 10,000 US stock symbols to Solana through a single API.
Tokenized stocks reached $20.9bn in decentralised exchange volume over the past 30 days, with Uniswap handling roughly $12.6bn of that activity, Bitcoin.com News reports. The figures, attributed to Token Terminal, show tokenised equities moving from a niche experiment into a fast-growing part of DeFi liquidity, collateral and market infrastructure.
Uniswap v4 led with a 40.7% market share, while Uniswap v3 took another 19.4%, according to the data. Together the two versions accounted for about 60% of total volume. The article notes that tokenised stocks barely registered in onchain markets a year ago, and now trade through the same liquidity infrastructure used for crypto assets around the clock.
The concentration on Uniswap suggests existing DeFi venues may benefit as traditional assets move onchain. Sentora calculated on Sunday that every $1 deposited in Uniswap v4 supported $13.70 of trading volume over the past 30 days, compared with $8.70 on Uniswap v3, $1.90 on Curve and $0.11 on Uniswap v2. Token Terminal expects competition to intensify sharply, possibly by 10 to 100 times, making distribution and product execution more important.
Uniswap dominates DEX volume
Markets have taken note. UNI rose 93% over the past month to nearly $9, while AERO gained 68% over the same period. The article says those moves cannot be attributed solely to tokenised equities, but they underline growing investor interest in the infrastructure behind onchain markets.
Token Terminal said tokenised stocks have attracted about 4.4 million asset holders, yet remain tiny next to the more than $150tn global public-equity market. The article argues the liquidity pool for tokenised stocks could be decisive for DeFi, with protocols that dominate both trading and lending around such assets capturing a disproportionate share of future liquidity. It names Uniswap and Morpho as networks that could benefit most from structural advantages.
Simon Dedic, managing partner at Moonrock Capital, described DEXs and onchain markets as direct exposure to a potential tokenisation cycle, according to the article. Token Terminal said every company building onchain finance in 2026 now needs a tokenised-stock strategy.
Liquidity and collateral race
Competition is also moving beyond Ethereum. Backpack CEO Armani Ferrante said his company wants to bring the entire US stock market, roughly 10,000 symbols, to Solana through a single API, in a system designed to move security entitlements between brokerage accounts and DeFi. The article says the $20.9bn figure remains small against traditional equity markets, but the speed of change is the more important signal for crypto.