Tokenized stocks top $1.11B as chip shares slide

Tokenized-stock trading hit $1.11 billion in rolling 24-hour volume Thursday, Nov. 5, according to a snapshot covering 250 stock tokens. That's about 4.7% above the $1.06 billion clocked in the previous daily reading. The 250 tokens carry a combined market value of $2.92 billion. The two figures come from rolling windows captured at different moments, so they don't describe identical stretches of time.

SanDisk's bStocks token ran away with individual product volume at $79.7 million, up from $49.1 million in the earlier snapshot. SpaceX shares followed at $38.9 million, with Circle at $32.5 million and Alphabet at $31.8 million. Nvidia's Robinhood token pulled $28.1 million, and Micron's bStocks token did $27.5 million.

Issuer leaderboards stayed lopsided. bStocks booked $616.6 million, up 3.7%. Robinhood jumped 24.6%, now at $244.6 million. Ondo Global Markets added 4.6% to reach $136.2 million. xStocks slipped 2.6%, landing at $136.4 million.

The volume bump landed alongside a rough Thursday for chipmakers. SanDisk tumbled more than 17%, Micron shed more than 12%, AMD lost more than 13% and Nvidia gave up about 6.5%. Traders leaning on tokenized names got the same whiplash as everyone else holding the underlying stocks.

A narrower reading told a different story. Solana's network alone posted $657 million in tokenized-stock volume on Nov. 2, a single-chain figure from a different day. Its scope and timing don't line up with the broader $1.11 billion snapshot.

Equity perpetual futures are a separate arena entirely. TradeXYZ's 109 stock, ETF and index perpetual markets on Hyperliquid notched $4.12 billion in 24-hour volume and $3.22 billion in open interest. Those contracts offer leveraged price exposure without handing holders any ownership of the stocks.