Tokenized equities valued at $313 million were held across decentralized finance (DeFi) protocols on Oct. 15, with the 10 largest platforms accounting for 89% of the total. That concentration figure covers DeFi holdings alone, not the full tokenized-equity market.
The Jan. 1 reading was $15.5 million, while the Oct. 15 figure was roughly 20 times that size. Each number captures a single date, not the cumulative sum users deposited between the snapshots. Total value locked (TVL) is the dollar estimate of assets stored through a protocol's smart contracts at a given point.
A higher dollar valuation alone is not evidence that net deposits rose by the same factor. The figure moves with market prices as well as with user transfers into and out of protocols.
Pendle yield markets accounted for $42.6 million; Figure Markets Exchange had $48.9 million, while Saturn stood at $50.9 million. By activity, decentralized exchange spot pools represented $77.9 million, and lending and borrowing accounted for $51.3 million.
A market-wide valuation for tokenized equities came to $3.8 billion in the week of Oct. 5, versus $654 million in the week of Jan. 5. DeFi's Oct. 15 balance amounted to about 8% of the wider market. Because the figures use different dates, they cannot show a like-for-like change in DeFi's market share from January to October.
Product terms vary across offerings. Robinhood's Stock Tokens are classified as debt securities; they offer economic exposure to underlying securities without granting legal or beneficial ownership of those securities. Robinhood does not make the product available in the United States or to U.S. persons.
