If the QQQ-linked token QQQB is excluded, July’s tokenized equity volume would total დაახლოებით $2.03 billion—around 30% lower than June’s estimated $2.91 billion.
Tokenized stocks and ETF trading overall jumped 288% in July to reach a record $11.3 billion. However, most of that surge was concentrated in a single Binance-affiliated asset.
Binance’s bStocks made up $9.41 billion, or 83.3% of total activity, according to CoinDesk Data’s latest Stablecoins & Tokenized Assets report. Of that, QQQB alone—tracking the Invesco QQQ ETF—generated $9.27 billion, accounting for roughly 82% of the entire market.
Without QQQB, the rest of the sector showed weaker performance. xStocks volume fell sharply to $335 million from $1.55 billion in June, while Ondo recorded $792 million and Backpack $479 million.
QQQB began trading on Binance on June 30, offering zero maker fees through Aug. 31. Starting July 23, Binance also applied a 3x multiplier to stock and bStocks trades for certain users aiming to reach higher VIP tiers, though this did not change the actual volume figures.
Meanwhile, the underlying Invesco QQQ Trust dropped 6.6% during July, compared with a 3.2% decline in the Nasdaq Composite and a modest 0.1% dip in the S&P 500. The ETF at one point fell 10.2% below its June 30 close before rebounding toward the end of the month.
Volatility was largely driven by AI and semiconductor stocks. The iShares Semiconductor ETF fell 22.1%, marking its worst monthly performance since December 2002, while Micron shares dropped 28.7%, according to MarketWatch. Trading activity in QQQ increased amid swings tied to AI-related momentum, the FOMC meeting, and earnings reports from major tech firms.
A major appeal of tokenized equities is their 24/7 tradability. By replicating traditional stocks on blockchain rails, they allow continuous access, enabling international investors to trade outside U.S. market hours and in regions where direct brokerage access may be limited.
