Tokenized Stock and ETF Volume Reached $11.3B in July, With QQQB Driving 82% of Trading
Global trading volume in tokenized stocks and ETFs climbed to $11.3 billion in July 2026, a record high, but the QQQB product accounted for 82% ($9.27 billion) of the total. Excluding QQQB, July volume was about $2.03 billion, down 30% from an estimated $2.91 billion in June. Binance bStocks made up 83.3% of overall activity, while volumes on xStocks fell and activity on Ondo and Backpack remained well below QQQB. The figures underline how concentrated and potentially unrepresentative the tokenized-equities market remains, creating a narrative challenge for projects tied to the theme without directly implying a price catalyst.