Binance's bStocks reaches $1 billion in assets four months after launch
Binance's tokenized equities platform bStocks has surpassed $1 billion in assets under management four months after its June debut, logging over $40 billion in cumulative trading volume.
Binance announced that its tokenized U.S. equities platform, bStocks, crossed $1 billion in assets under management roughly four months after its June 11 launch. The exchange reported cumulative trading volume exceeding $40 billion and over $6 billion in 1:1 conversions between direct stocks and tokenized positions. Having launched with five listings, the product lineup has since expanded to nearly 100 tokenized equities and exchange-traded funds.[5][6][8][4]
The rapid growth has pushed bStocks to the forefront of the tokenized equity sector. According to data from Principia Labs, bStocks became the largest tokenized stock issuer with $1.07 billion in tokenized value across 95 stocks and ETFs, moving ahead of Backed/xStocks at $1.01 billion and Ondo at $964 million. Onchain analytics firm Token Terminal reported that bStocks' market cap reached a new high of $1.2 billion, with its top four assets—CRCLb, SPCXb, MSTRb, and QQQb—accounting for 41% of total value.[2][7][6]
Issued by Binance subsidiary BTech Holdings under an Abu Dhabi Global Market-approved prospectus, bStocks tokens are backed 1:1 by underlying shares and are redeemable for the stocks, though Binance notes they do not confer direct corporate share ownership and are unavailable to U.S. persons. In September, Binance also permitted eligible users to use bStocks as collateral for margin and futures trading, allowing leverage of up to 5x.[6][1]
Key facts
- Binance launched bStocks on June 11 with five listings before expanding to nearly 100 tokenized equities and ETFs.
- bStocks crossed $1 billion in assets under management roughly four months after launching.
- Cumulative trading volume on bStocks has topped $40 billion, with more than $6 billion converted between stocks and tokens at a 1:1 ratio.
- Principia Labs data placed bStocks as the largest tokenized stock issuer with $1.07 billion in tokenized value, ahead of Backed/xStocks ($1.01B) and Ondo ($964M).
- Token Terminal recorded bStocks' onchain market cap at a peak of $1.2 billion, with CRCLb, SPCXb, MSTRb, and QQQb making up 41% of the total.
- bStocks tokens are issued under an ADGM-approved prospectus by Binance subsidiary BTech Holdings and are not available to U.S. persons.
Sources · 8 sources
- TM
That Martini Guy ₿@MartiniGuyYTPost on X ·
Tokenised stocks are growing MUCH faster than I expected. Binance bStocks just crossed $1 BILLION in assets, only 4 months after launch. → $6B+ converted between bStocks and direct stocks at 1:1 with zero conversion fees. → 58% of trading volume outside US market hours in August. → Tokenised equities are up 390% in market cap this year. Only 0.0025% of the global stock market is currently on-chain. I think the ability to trade stocks outside traditional market hours and actually use them in DeFi is going to be a massive part of where this industry goes. Keep in mind bStocks are tokenised securities, not direct share ownership.
Open source - PL
Principia Labs@PrincipiaLabs_Post on X ·
bStocks #bstocks is now the largest tokenized stock issuer. Binance launched it on Jun 11. Four months later: ◾️$1.07B tokenized value across 95 stocks & ETFs ◾️Ahead of Backed/xStocks ($1.01B) and Ondo ($964M) ◾️Only Tether and Paxos are bigger, and both are gold The real gap is in trading. 24h volume: $971M, more than Ondo, Backed and Robinhood combined ($787M). Daily turnover: 90%. Ondo: 39%. Backed: 26%. Binance didn’t build a better wrapper. It put stocks in front of the biggest crypto user base. Distribution wins. Track it live: https://t.co/C3rje0m135
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: Binance’s tokenized stock platform surpasses $1B in assets under management The bStocks platform crossed the milestone just four months after launch. https://t.co/5hU7BAtu0A
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🔥 UPDATE: Binance CEO Richard Teng says bStocks hit $1B AUM in four months, with over $6B converted between stocks. https://t.co/y2lVG7sujV
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Binance said its bStocks tokenized equities have surpassed $1 billion in assets under management roughly four months after launching in June. The exchange reported more than $40 billion in cumulative trading volume and $6 billion in conversions between stocks and bStocks, with nearly 100 tokenized equities and ETFs listed.
Open source - UN
UnchainedArticle ·
Binance’s bStocks Lead Tokenized Stocks After Crossing $1 Billion Binance’s tokenized U.S. equities product, bStocks , now holds more than $1 billion in assets under management, the exchange announced on Thursday, attributing the figure to Dune Research onchain data as of Oct. 15. The tokens went live on June 11 with five listings. Binance described bStocks as the fastest tokenized equity product to reach $1 billion. The release did not name the products it measured against, and Unchained could not find a public Dune dashboard that tracks bStocks. Ondo Global Markets said in May that its tokenized stocks had crossed $1 billion in total value locked less than eight months after launch, a different measure. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . Independent Data Puts bStocks First Data from rwa.xyz on Oct. 16 ranked bStocks first by value among tokenized stock platforms, at $1.2 billion in a market of about $3.5 billion . Ondo came second with $893.7 million, and xStocks third with $600.4 million. Users have swapped $6 billion worth of shares into and out of token form at a one-to-one rate, according to Binance, which says the tokens have traded more than $40 billion since launch, upward of $300 million on an average day. Close to 100 are now listed. “The test of a tokenized stock isn’t the launch-day chart; it’s whether it still behaves like a market after the launch,” said Shunyet Jan, Binance’s head of exchange and trading, in the release. What Holders Own Binance says every token is backed 1:1 by the underlying security and can be redeemed for the stock itself rather than its cash value. The disclaimer in the same release says bStocks “are not stocks or shares” and do not give holders direct ownership of a share in the listed company. They are offered only under a prospectus approved in Abu Dhabi Global Market and are not available to U.S. persons. The issuer, BTech Holdings , is a wholly owned Binance subsidiary. Ethena began backing its USDe stablecoin with bStocks in September. In an August review for Ethena’s Risk Committee, Kairos Research wrote that until a side letter restricts what the issuer can do with the backing shares, the spot leg “is unsecured credit exposure to a Binance affiliate rather than a claim on the stock.” Ethena has not said publicly whether that letter has been signed. Binance first previewed bStocks in June alongside a direct U.S. stock trading service. That separate product reached $1 billion in assets within its first month, Binance said in July. In September, Binance let all eligible users, retail included, use supported bStocks as margin and futures collateral, including borrowing to build exposure of up to 5x. The exchange said it plans to extend bStocks from trading into hedging, margin and risk management. Related Listen: ‘This Is a Better Version of a Stock, Period,’ Says Cutler The post Binance’s bStocks Lead Tokenized Stocks After Crossing $1 Billion appeared first on Unchained .
Open source - TT
Token Terminal 📊@tokenterminalPost on X ·
Binance bStocks reaches $1.2B in onchain market cap, a new all-time high Largest assets: CRCLb: $160.7M SPCXb: $137.2M MSTRb: $100.7M QQQb: $90.8M The top four account for 41% of the total, with demand spread across individual stocks & ETFs https://t.co/QMOOlaZ2RO
Open source - BS
BSCN@BSCNewsPost on X ·
Binance bStocks go 10 figures @bstocksfinance, the Binance tokens backed 1:1 by US-listed stocks and ETFs, passed $1B in assets under management about four months after their June 11 launch. @binance calls it the fastest tokenized equity product to reach that mark. Trading volume has since topped $40B, and the lineup has grown from five tokens to nearly 100. Users have also moved $6B between bStocks and regular stock positions.
Open source