Tokenized Stock Demand Drives Monthly RWA Perpetual Futures Volume Above $470 Billion

Surging demand for tokenized stocks pushed monthly trading volume in real-world asset, or RWA, perpetual futures above $470 billion.

The Block reported July 22 that monthly RWA perpetual futures volume on major exchanges reached about $470 billion last month. That was more than five times January's roughly $85 billion.

Tokenized stocks drove the increase. The Block said trading volume in tokenized stock perpetual futures surged about sevenfold from January to June. Pre-IPO shares such as SpaceX, along with semiconductor names including Micron, Intel and SK Hynix, led the rise in volume.

"The core appeal of tokenized stock perpetual futures is clear," The Block wrote. They offer leveraged, round-the-clock global trading in assets that at traditional brokerages can be traded only during limited hours and after completing know-your-customer, or KYC, procedures.

As of last month, Binance, Hyperliquid (HYPE) and OKX accounted for more than 80% of total tokenized stock perpetual futures trading volume. Binance alone held about a 50% share.