Tokenized Stocks Hit $20.9 Billion DEX Volume as Uniswap Leads

The number is significant because tokenized stocks barely registered in onchain markets a year ago. Today, they are beginning to trade through the same liquidity infrastructure used for crypto assets around the clock.

Uniswap Is Emerging as the Early Tokenization Winner

The concentration on Uniswap highlights how existing DeFi infrastructure may benefit as traditional assets migrate 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 dramatically, potentially by 10 to 100 times, making distribution and product execution increasingly important.

Markets are already paying attention. UNI has risen 93% over the past month to nearly $9, while AERO has gained 68% in the same span. The moves cannot be attributed solely to tokenized equities, but they underline growing investor interest in the infrastructure supporting onchain markets.

The Next Prize Is Turning Stocks Into Collateral

Trading may only be the first phase.

Token Terminal said tokenized stocks have already attracted about 4.4 million asset holders, yet they remain tiny relative to the more than $150 trillion global public-equity market.