Tokenized stocks reached a market capitalization of $5.5 billion, driven by the SpaceX IPO and the expansion of exchange operations.

CoinFeed reported on June 9th that, according to The Block, the market capitalization of tokenized stocks (RWAs) grew from $2.23 billion at the beginning of the year to $5.5 billion, a six-month increase of approximately 147%, making it the fourth largest RWA category. This growth reflects the structural demand trend among crypto users to access the stock market, and exchanges are responding by embedding stock products directly into their existing platforms. Kraken and Bybit decided to natively offer SpaceX's IPO on their platforms, allowing users to participate in this highly anticipated private-to-public transaction without leaving the crypto ecosystem. Binance also offers perpetual stock products for its non-US users, reaching a retail demand group that historically had limited or high barriers to entry into the US stock market. The SpaceX case particularly illustrates this market opportunity.