Buying and selling quantity for tokenized shares and ETFs surged 288% to a report $11.3 billion in July, although a lot of the enhance got here from a single Binance-linked token.
Binance bStocks accounted for $9.41 billion, or 83.3% of the entire, in keeping with CoinDesk Information’s newest Stablecoins & Tokenized Belongings report. A bStocks token, QQQB, monitoring Invesco’s QQQ ETF, generated $9.27 billion alone, equal to roughly 82% of all tokenized-equity quantity.
Excluding QQQB, July quantity was roughly $2.03 billion, about 30% beneath the market’s implied June whole of $2.91 billion. xStocks quantity dropped to $335 million from $1.55 billion, whereas Ondo recorded $792 million and Backpack $479 million, the report particulars.
QQQB started buying and selling on Binance on June 30 with zero maker charges by Aug. 31. Binance additionally started counting shares and bStocks quantity at thrice its traded worth for some customers in search of greater VIP tiers on July 23, although the multiplier doesn’t alter precise buying and selling quantity.