Tokenized Stocks Hit $1.2B ATH – Ethereum Is Quietly Becoming the Backbone

Just crossed with another great Leon Tweet talking about stocks on chain breaking a new record!

https://preview.redd.it/b1vtkm8lb3bg1.png?width=1500&format=png&auto=webp&s=4cf3f7ccb5e88f904be4c37e06447992d6fe8011

As you can see in the chart above, Tokenized stocks just crossed $1.2B in market cap achieving a new All Time High (ATH) and a large part of this growth is being handled by the Ethereum ecosystem.

What is driving the market now is real issuance with meaningful floats, better collateral structures and products designed to scale and most of this is happening on serious ecosystems and infrastructures that have already been tested for ages, Ethereum mainnet for settlement and L2s like Arbitrum for execution and cost efficiency.

Distribution has also leveled up and tokenized equities are no longer trapped inside niche protocols, they are accessible through Ethereum wallets, exchanges and on chain apps directly benefiting from Ethereum's composability. Stocks are simply plugging into an ecosystem that has been maturing for years.

Two things are important here:

1. Liquidity concentration: Today liquidity is still primarily on Ethereum mainnet and Arbitrum with Solana also in the mix (Solana Ethereum L2s by 2035? Place your bets). Depending how liquidity consolidates it will define how institutional this market becomes.
2. Regulation and access: Ethereum hosts most of the compliance tooling, on chain identity experiments and custody standards needed for regulated tokenized assets. This is more important than speed narratives in the long run.

If you do not believe today's tokenized stock market can 10x in 2026, you are underestimating one thing, Ethereum does not need to win attention, it just needs to keep shipping infrastructure and that is exactly what Ethereum has been doing.

Source:

• Tweet: https://x.com/LeonWaidmann/status/2007155293382217875