The tokenized equities market has experienced explosive growth in 2026, with active market capitalization surging over 140% from $814 million to nearly $2 billion, according to a new independent report by DeFiLlama. Commissioned by Bitget, the world’s largest Universal Exchange (UEX), the research highlights not only the sector’s expansion but also the increasing importance of execution quality and liquidity infrastructure.
The comprehensive study evaluated leading tokenized equity platforms across several dimensions, including brokerage connectivity, reserve transparency, dividend handling, settlement models, and trading architecture. A key finding was that competition is shifting from merely listing more assets to building robust markets behind them. Bitget stood out, recording the narrowest median bid-ask spread at just 0.83 basis points and the deepest top-of-book liquidity across all five tokenized equity markets assessed.
The analysis extended to perpetual products linked to stocks, metals, and commodities. Bitget ranked highest in the majority of 36 stock perpetuals and 8 commodity perpetuals at 5, 10, and 50 basis-point order-book depths, while also achieving the largest combined liquidity. Gracy Chen, CEO of Bitget, emphasized that “a tokenized stock is only as good as the market behind it,” and that investors increasingly demand efficient execution. The report also noted that Bitget’s Reality rTokens ecosystem generated over $1.16 billion in trading volume between June and July, with semiconductor and technology stocks leading activity—signalling strong demand for tokenized exposure to AI and innovation-driven companies.
