Coinbase’s weekly tokenized-stock activity was about $20 million, its head of institutional strategy John D’Agostino said, though the undefined measure leaves the figure’s significance hard to assess.
D’Agostino did not specify whether the sum counted newly created tokens, trading volume or net deposits. He said activity was growing and described Binance’s amount as “multiples” of Coinbase’s, without explaining the basis for that comparison. The missing definition means the weekly figure cannot be treated as a trading-volume measure.
Coinbase’s Ethereum layer 2 network Base hosted the tokenized-stock launch on Aug. 24. The products are issued from Abu Dhabi Global Market and are unavailable to U.S. persons.
A separate cumulative tally puts trading in Coinbase’s Base stock tokens at about $1.02 billion, but the undefined weekly measure does not show how the figures relate. The tokens also serve as collateral in Aave V4’s Equities Hub on Base.
