According to CoinMeta, in July 2026, the trading volume of tokenized stocks and ETF increased by 288% month-on-month, reaching a record $11.3 billion, but this growth was highly concentrated in a single product. Binance Bstocks contributed $9.41 billion, accounting for 83.3% of the total trading volume. Among them, the QQQB that tracks Invesco QQQ ETF had a monthly trading volume of $9.27 billion, accounting for about 82% of the total market. Excluding QQQB, the trading volume of tokenized stocks in July was only about $2.03 billion, which is a decrease of about 30% from $2.91 billion in June. During the same period, the trading volume of Xstocks dropped from $1.55 billion to $335 million, while Ondo and Backpack recorded trading volumes of about $792 million and $479 million respectively.