New report finds that rapid expansion of tokenization is giving rise to new styles of investing

Many people on Wall Street expected tokenization—the process of turning assets into tokens that can be traded on a blockchain—to amount to little more than reproducing legacy financial products on a digital ledger. What has happened instead has been eye-opening. According to a  new report from data analytics platform Dune, on-chain investors are also using tokenization technology to construct an around-the-clock financial system that defies the design of traditional markets.

This development has coincided with rapid institutional adoption of tokenization. Dune reports that the total supply of tokenized real-world assets has exceeded $34 billion in 2026, and major categories—including cash equivalents and commodities—have more than doubled over the past year. Tokenized stocks have grown the fastest, rising more than 2,000% as the number of active holders blew past one million, per Dune. 

Rather than simply putting familiar financial........

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