The volume of tokenized stocks on the Ethereum network grew by 170% over the year, reaching $827 million by the end of October 2026. According to a fresh report from the analytics platform Token Terminal, the real-world assets (RWA) sector has outgrown the experimental stage.
While the total value of tokenized securities on alternative chains is measured in billions of dollars, the volume on Ethereum remains in the range from $827 million to $841 million, and the network remains one of the key channels for digitized equities.
The rapid growth of the sector is largely tied to how the digital assets themselves are structured. At the moment, 86% of tokenized stocks are issued under the model of classic stablecoins: the instruments are fully backed by the underlying asset in a 1:1 ratio and, at the same time, function without the direct operational or legal participation of the issuer of the original securities.
Ethereum, which currently controls 53.8% of the global stablecoin market ($158.71 billion out of a total of $294.75 billion), carries its well-tested and liquid infrastructure over to traditional securities.
Professional market participants assess this shift as a potential repetition of the success of stablecoins, but this time in the stock market.
Parallel reality
While spot infrastructure is being built on Ethereum, a completely different, speculative life is unfolding in the derivatives market. Here, historical records are being set on decentralized venues: open interest, with contracts on the same tokenized stocks accounting for the largest share, has reached $1.76 billion.
An example of this ecosystem is the Hyperliquid platform, whose native token HYPE is trading at around $87.70. The coin is supported by an inflow of new holders, as well as automated tokenomics: the platform directs $1.24 million daily to buying back HYPE from the open market.
Representatives of the investment community have outlined the zone from $70 to $76 as a key long-term support level. Current market conditions point to a possible move toward the $90–$100 range.
The existence of this parallel reality — from spot on Ethereum to highly liquid futures on Hyperliquid — shows that the blockchain is becoming a multi-level environment for different types of capital.
