Public equities are becoming the leading growth segment in real-world asset tokenization as traders shift toward on-chain stock exposure.
The sector now combines tokenized shares, perpetual futures, and leveraged positions across crypto trading venues.
Early RWA adoption centered on bonds and money market funds. However, listed equities are now expanding faster as traders seek access to widely followed US stocks. This growth is also bringing activity to exchanges that previously handled lower trading volumes.
Institutions continue to hold interest in Bitcoin, Ethereum, and selected digital assets. Meanwhile, retail traders and large holders are increasingly turning toward equity-linked products available through blockchain networks and perpetual futures platforms.
Public Equities Drive RWA Market Growth
CryptoRank data shows public equities supported 411 active markets and more than $2 billion in open interest by July 2026. The segment accounted for 46% of the RWA market and exceeded $2.4 billion in daily trading volume.
Activity shows that tokenization is mainly being used for leveraged trading and permissionless equity exposure. Less liquid assets have not attracted comparable demand, while trading remains the dominant use case across the sector.
Most open interest and daily volume comes from a limited group of major US equities. The number of RWA holders also rose 30% during the past month, reaching 1.2 million wallets.
The latest adoption wave follows years of smaller blockchain stock projects. Robinhood Chain and Solana have now emerged as important networks for tokenized equity trading, helping attract both crypto-native users and traditional equity traders.
Trading Venues Expand Equity Access
Hyperliquid and its HIP-3 markets remain leading destinations for equity perpetual futures. Binance and specialized exchanges are also adding more stock-linked trading pairs as competition increases.
Kraken now provides access to 100 US stocks and exchange-traded funds. The S&P 500 index represents about 1% of the exchange’s daily volume. Bybit also offers XYZStocks to international traders through continuous trading.
The market still combines permissionless platforms with regulated centralized exchanges. Tokenized equities and equity perpetual futures remain subject to unresolved questions involving jurisdiction, custody, ownership rights, and regulatory treatment.
Micron Whale Position Draws Attention
Equity perpetual futures have overtaken gold and oil as the leading contract category on HIP-3. Stock indexes rank as the most actively traded instruments, followed by individual company shares.
Equities are the most active perpetual futures contracts on HIP-3. | Source: Dune Analytics
As second-quarter earnings season begins, Nvidia and Micron Technology rank among the five trending assets on HIP-3. A whale recently deposited more than $14 million in USDC to Hyperliquid before opening a Micron position.
Micron has attracted more than 40 whale positions. Sixteen whales hold long positions, while the remaining traders are shorting its perpetual futures. On-chain equity activity is also being monitored for developing themes around semiconductor companies and artificial intelligence growth.
