Tokenized Stocks Reach $262 Million In DeFi, But The Growth Is Not All On Base

TL;DR: Stock-linked tokens deployed in DeFi reached an estimated $262.4 million across blockchains at the end of September, up nearly 18-fold from the start of 2026. Base accounted for about $16 million, not the entire total.

Tokenized stocks are starting to do more than sit in digital wallets. A September 30 snapshot put approximately $262.4 million of stock-linked assets into decentralized finance applications across multiple blockchains, compared with around $14.66 million at the beginning of the year.

The figures describe assets being used in DeFi, not the total value of all tokenized equities outstanding. That distinction is important as the category grows more complicated, with different issuers, networks and financial rights behind products that can look similar on a trading screen.

Solana accounted for about $95.9 million of the DeFi amount in the tracked figures, while Robinhood Chain held approximately $79.9 million. Base’s reported portion was closer to $16 million. The growth story, in other words, is spread across several networks rather than belonging exclusively to one exchange or Layer 2.

Once stock-linked tokens can be exchanged in automated markets or pledged as collateral, investors gain new ways to put positions to work. The trade-off is exposure to protocol risks and liquidity conditions that do not exist in the same form in an ordinary brokerage account.

It is also important not to assume that every token represents direct legal ownership of an underlying share. Rights, redemption mechanisms and eligibility rules vary by issuer.

The $262 million figure is still small beside conventional equity markets. But its significance lies in what those assets are being used for: programmable financial activity, not simply a blockchain-branded way to hold a stock.