Wall Street is picking chains for tokenized stocks. NYSE builds its own chain on Avalanche tech, DTCC pilots on Canton, OKX × ICE picked X Layer. Formation plans to open on Solana in early 2027.

Tokenized stocks on these chains today: $0.

The $3.87B market lives elsewhere. Binance bStocks leads with $1.51B, ahead of Ondo at $907M and Kraken's xStocks at $700M. 90% of it is offshore wrappers not offered to US persons.

By chain, BNB Chain holds 46.2%, Ethereum 19.6% and Solana 15.2%.