Tokenized Stock DEX Volume Surges to $2.1 Billion in June
Trading volume for tokenized stocks on decentralized exchanges (DEXs) surged to $2.1 billion in June, more than quadrupling from May and marking the first month on-chain equity trading surpassed tokenized commodities. The $2.1 billion in on-chain DEX volume also represents an 18-fold increase from July 2025, coinciding with the launch of xStocks as a primary platform for tokenized traditional equities.
Solana hosted approximately 95% of the tokenized-stock DEX volume, with the S&P 500 derivative SPYx leading activity at roughly $967 million, a 31-fold jump from May. Tokenized SpaceX shares also drove significant demand; SPCX, issued by Backpack Securities and launched alongside SpaceX’s Nasdaq listing on June 12, generated $440 million in volume. Combined with versions from xStocks and Ondo Finance, SpaceX-linked tokens reached $478 million, making them the second-largest trading asset behind SPYx.
From the sources (8 posts)
@coinmarketcapTokenized stocks weekly recap, week ending Jun 28: Aggregate TVL held at $1.24B while on-chain DEX volume cooled 20% WoW to $216M. Ondo still leads TVL (50%), and bStocks has quickly grown to take 14% TVL volume for the past week. Full
@coinmarketcap$SPCX debuted at the top of the leaderboard with $35M in combined DEX volume across all three issuers, edging out Circle ($35M) and NVIDIA ($30M). Micron ($26M) rounds out a heavy tech top 4. Tesla, Strategy, Marvell and Google follow. htt
@coinmarketcapTokenized stocks still trade on Wall Street time: 48-63% of volume lands in US market hours. But the 24/7 promise is real. xStocks did 20% of its volume on weekends, when traditional markets are closed.
@duneTokenized stocks did $2.1B in DEX volume in June, ~4x May and ~18x last July when xStocks launched. For the first time, they out-traded tokenized commodities onchain: $2.1B vs $647M. Every month before, commodities led.
@duneThe biggest single name was SPYx, the tokenized S&P 500 by @xStocksFi: ~$967M in June, up ~31x from May, nearly half of all tokenized-stock volume.
@dune. @SpaceX's IPO set off a frenzy. SPCX, its tokenized share from @Backpack Securities, went live June 12, the same day SpaceX listed on Nasdaq. It did ~$440M in June; the @xStocksFi and @OndoFinance versions added ~$38M between them. Togeth
@dune~95% of June's tokenized-stock DEX volume was on @solana, and ~94% over the past year. That's where SPCX launched and where most SPYx volume trades too.
@duneRT @Dune: Tokenized stocks did $2.1B in DEX volume in June, ~4x May and ~18x last July when xStocks launched. For the first time, they out-…