According to Binance Research data, as of October 14, 2026, bStocks managed to increase its asset management scale ( AUM ) to $1 billion in 125 days, which is less than half of the time taken by Ondo. However, the tokenization of bStocks's stocks is not only reflected in this milestone: net inflows contributed to most of its asset growth, and its holdings have expanded to nearly 100 listed targets, with over half of the transactions occurring outside of regular U.S. trading hours.

Key Points

• After bStocks went live, it accounted for over 60% of the growth in the tokenized stock market.
• Millennials contributed 78% of the transaction volume, but they only account for 37% of the users.
• The average weekly turnover rate reaches 1.65 times the asset management scale of bStocks.

The tokenized stocks of bStocks are growing faster than those of its peers.

bStocks reached $1 billion faster than Ondo, which took 265 days. According to the rwa.xyz data summarized by Binance Research, it took bStocks 46 days to reach $500 million previously, while Ondo required 175 days, and xStocks took 403 days.

This acceleration process took only about a month to grow from $100 million to $500 million. One of the strongest weeks in performance occurred at the beginning of July, when 10 stock codes were added to the platform.

Since bStocks was launched on June 11th, the tokenized stock market has seen an overall growth of 119%, while excluding bStocks, the growth was only 45%. This product contributed to over 60% of that increase and maintained this level on October 20th as well. Binance Research interprets this as market expansion that is not merely a transfer of assets from existing issuers.

As of October 14th, bStocks's AUM has reached 249 times its initial record level. The growth rate slowed down in August after a significant surge at the end of July, and then accelerated again since September.

Net inflows drive a broader asset base

According to the analysis of Binance Research on the data of DefiLlama, since its launch, net inflows have contributed approximately 68% to the growth of AUM on the chain. Price changes and unattributable changes have contributed to the remaining portion.

These other factors drove most of the growth in June and July. However, since late August, the net inflow has generally been on par with or higher than the growth of AUM. As of the week of August 16, the net outflow was approximately $184 million; in the following week, funds flowed back in, and net inflows were maintained for most of the weeks thereafter.

Data from October 13th shows that Generation Z accounts for 46% of bStocks users, but only contributes 8% of the transaction volume; Millennials, who make up 37% of the users, contribute 78% of the transaction volume.

Trading behaviors also vary among different generations. Among Generation Z, 11.5% of trading volume occurs on weekends, while for other generations combined, this figure is only 6.9%. Only 26% of Generation Z's positions are held open for a week or longer; this proportion rises to 40% for Millennials, and is close to 30% for both Generation X and Baby Boomers. In all statistical periods, Millennials have the longest position holding duration, with 13% of their positions still open after 90 days.

Cryptocurrency-related stocks, including Strategy and Circle, attracted 50% of the buying amount from millennials, while Generation Z accounted for 40%. SpaceX accounted for 26% of Generation Z's buying amount, with millennials at 16%; indices such as QQQ and SPY attracted 8% and 3% respectively, and ETF also drew a certain percentage.

Geographically, emerging and frontier markets have contributed about 70% of the trading volume since their launch, and this proportion rose to around 75% during the week covered by the snapshot on October 11th.

Approximately 56% of the total trading volume occurs outside of regular trading hours in the United States: about 49% comes from before or after market opening on weekdays, and another 7% comes from weekends.

Active trading and the use of DeFi expands with AUM.

According to the data from Binance Research on October 11th, over the two months covered, the average weekly trading volume was approximately 1.65 times that of AUM. The turnover rate dropped from about 5 times that of AUM in the first week, but since mid-September, as the assets continued to grow, the weekly trading volume has remained relatively stable.

The use in margin accounts is also expanding. During the snapshot period from June 30 to October 11, bStocks's AUM increased by about 5.4 times, the listed assets increased by about 6 times, the margin collateral increased by about 6.5 times, and the cumulative spot trading volume grew by more than 18 times.

This article was generated with the assistance of artificial intelligence and has been reviewed by an editorial team.

Amelia Tomasicchio

Amelia is an expert in the field of digital marketing. In 2014, after writing a paper on Bitcoin technology, she entered the fintech industry. Prior to that, she contributed to several international cryptocurrency-related magazines and served as the Chief Marketing Officer for Eidoo. She is currently a co-founder of The Cryptonomist and also a marketing instructor at Digital Coach in Milan. She has also published a book about NFT with an Italian publishing house Mondadori and has helped artists and companies enter this field. As a consultant, Amelia has also participated in metaverse-related projects such as The Nemesis and OVER.