CoinMeta data: The International Monetary Fund ( IMF ) pointed out in its latest global financial stability report that although the tokenized stock market is relatively small in scale, it demonstrates genuine demand. More than half of tokenized stock transactions occur outside of regular trading hours in the U.S. market, and approximately 80% of these transactions involve less than a full share, indicating a strong desire among retail investors for partial ownership. IMF studied five of the most liquid tokenized U.S. stocks, including those of Tesla, NVIDIA, and the S&P 500 index, and found that the prices on the blockchain conveyed accurate information. The report also noted that the volatility of tokenized stocks is about 1.5 times that of their underlying stocks, and liquidity is relatively poor, especially on decentralized exchanges. The market is currently valued at around $2.3 billion, with Ondo Finance and Backed Finance accounting for over 70% of the market share. IMF recommends that regulators consider implementing circuit breakers for 24/7 trading and closely monitor the connections to traditional markets.