CoinGecko Says Tokenized Equities and Commodities Drive a Fivefold Jump in Crypto TradFi

TL;DR

• CoinGecko says tokenized traditional assets on major crypto exchanges grew from $1.4 billion in January 2025 to $6.6 billion by June 2026 globally.
• U.S. stock perpetual futures overtook precious metals in volume and open interest, supported by demand for semiconductor shares and anticipated initial public offerings worldwide.
• Perpetual futures dominate because traders want leverage and exchanges avoid custodying underlying assets, while competition from brokerages and decentralized platforms rapidly accelerates convergence.

Crypto exchanges are moving deeper into traditional finance as tokenized equities, commodities, precious metals, indexes and foreign exchange gain traction across major platforms. CoinGecko found that the market capitalization of these products expanded from $1.4 billion in January 2025 to $6.6 billion in June 2026 across Binance, OKX, Bybit, Bitget, Gate and MEXC. The fivefold increase shows crypto venues evolving into broader multi-asset marketplaces. Yet the growth raises a curious question: are exchanges genuinely tokenizing finance, or mainly recreating leveraged brokerage products inside always-open digital markets for users increasingly expecting access beyond conventional market hours?

Stocks, precious metals, commodities, and forex have now become the battlegrounds for crypto exchange differentiation.

Here are 4 highlights you shouldn’t miss about how crypto exchanges are reshaping traditional asset trading.

Thread below. 🧵 pic.twitter.com/2XseoBOUy4

— CoinGecko (@coingecko) July 29, 2026

Perpetual futures redefine the tokenized TradFi market

The expansion began with tokenized precious metals, but U.S. stock perpetual futures had overtaken them in both trading volume and open interest by mid-2026. Interest centered on semiconductor companies and anticipated initial public offerings, reflecting how quickly crypto traders pursue familiar market narratives through new instruments. Tokenized equities are now driving activity more forcefully than the assets that initially built the sector. That shift suggests demand is not limited to blockchain-native investors seeking alternatives to crypto, but includes users wanting round-the-clock exposure to recognizable companies and events through platforms they already use for digital assets.

Perpetual futures account for most trading activity, while spot markets remain comparatively small. Traders favor derivatives because they offer leverage, and exchanges can list perpetual contracts without issuing or custodying the underlying tokenized securities or commodities. The market’s headline growth is therefore being powered primarily by synthetic exposure rather than direct ownership. This distinction matters because a $6.6 billion market can sound like widespread asset tokenization even when much of the volume comes from contracts tracking prices instead of blockchain representations that grant ownership or claims on underlying assets on public blockchain rails for investors.

Centralized exchanges are broadening their product menus as competition intensifies from decentralized venues and traditional brokerages expanding into digital assets. CoinGecko’s findings show those boundaries becoming increasingly difficult to separate, with crypto platforms offering stocks and commodities while brokers add crypto services. The convergence is turning exchanges into competitors across both digital and conventional markets. The unresolved issue is whether tokenized TradFi can maintain its momentum beyond leveraged speculation. Sustained growth may depend on deeper spot liquidity, clearer investor protections and products that offer practical advantages over existing brokerage accounts while preserving transparency and integrity.