Binance Claims Fastest $1 Billion Sprint in bStocks With $6 Billion in Share Conversions

Binance said on 15 October 2026 that its bStocks tokenised equity product has crossed $1 billion in assets, claiming the fastest run to that level by any competing tokenised equity offering and citing Dune data as of the same date. The milestone rests on more than $6 billion in two-way conversions between bStocks and the underlying shares, with cumulative trading volume exceeding $40 billion since the product launched on 11 June. The range of available securities has expanded from five to almost 100 stocks and exchange-traded funds.

The tokens sit alongside the exchange's existing direct-equity service, which gave eligible clients access to more than 7,000 US stocks and ETFs from early June through ADGM-regulated broker-dealer Nest Trading Limited, with buyers holding a beneficial interest in the shares. bStocks offer a second format for selected securities: clients can convert a conventional stock position into the matching token on a 1:1 basis at no conversion fee, and reverse the transaction later. Each token is issued by Binance affiliate BTech Holdings and backed by the relevant security held with a custodian. Under the product terms, the token is a certificate representing an interest in that security rather than direct ownership of the share.

Round-the-clock trading and margin use

Converted bStocks trade around the clock and can be withdrawn to a compatible BNB Smart Chain wallet, letting clients move equity-linked exposure into self-custody or into decentralised finance without first selling the position. In September, Binance extended collateral support for selected bStocks to eligible users of its Cross Margin and Portfolio Margin accounts, allowing those tokens to back other trading positions instead of being liquidated for collateral.

Usage data suggests out-of-hours trading is part of the draw. Only 38% of bStocks volume in July fell within regular US equity trading hours, and Binance Research found that 41.5% of early users had not traded the related direct-equity or perpetual products on the platform, a measure that does not establish whether they held shares elsewhere.

Binance's claim concerns the speed of reaching $1 billion rather than the largest asset base today. On 14 October, Ondo Finance said its tokenised stocks and ETFs accounted for more than $1.3 billion in total value locked, part of a broader $4 billion TVL figure that includes other products. Ondo reports TVL while Binance reports AUM, so the figures are not a like-for-like ranking. The IMF's October report also noted that tokenised equity markets provide access outside conventional hours but remain less liquid and more volatile than traditional counterparts — a distinction that matters when tokens trade while the shares behind them are not trading in the US market.