Binance bStocks holdings cross $1 billion within four months

Binance reported that its bStocks tokenised securities surpassed a value of $1 billion in assets under management only four months after their launch on June 11, highlighting a rapid growth in blockchain-based trading of US equities. According to Dune Research, this milestone was achieved on October 15, 2023. Binance emphasized that this achievement is the fastest among tokenised equity products, although the ranking relies on the company's assessment of available data.

Trading volume has surged, with over $40 billion in cumulative bStocks trading since the product's inception, averaging more than $300 million per day. The range of securities has expanded from five at launch to nearly 100 tokenised stocks and exchange-traded funds. Binance also recorded approximately $6 billion in conversions between bStocks and traditional stock positions, representing cumulative conversions rather than additional assets under management.

These tokenised securities track specific US-listed securities and are backed one-for-one by their underlying holdings. They can be traded 24/7, transferred between wallets, and converted into conventional securities under specific conditions. However, holders do not own direct equity in the underlying businesses or receive shareholder rights.

Binance's head of exchange and trading, Shunyet Jan, highlighted trading, collateral use, transfers, and conversions as indicators of active market participation. Despite only 38% of bStocks trading volume occurring during regular US market hours, this feature has contributed significantly to activity. The proportion of bStocks deployed in decentralized finance applications has risen to 11.2%, up from 5.5% in June.

Borrowing against bStocks collateral has also increased, representing 46.2% of deposited collateral by September 10, compared to 5.5% in June. Binance extended collateral eligibility to more customers in September, permitting margin and futures arrangements. The broader market for tokenised equities has expanded, with Binance Research estimating a market capitalization exceeding $3 billion by late September, a quadrupling of the figure during 2026.

Regulatory restrictions apply, as Binance offers these instruments under an approved prospectus in Abu Dhabi Global Market, with secondary-market access limited to eligible customers in permitted jurisdictions and not available to US persons.