Binance bStocks Reaches $1 Billion in Assets in 125 Days

Binance’s bStocks reached $1 billion in assets under management 125 days after launch, while emerging and frontier markets generated most volume and trading stretched beyond U.S. stock-market hours.

The tokenized-stock product hit the $1 billion mark in less than half the 265 days Ondo needed to reach it. Since its June 11 launch, bStocks has accounted for more than 60% of the increase in tokenized-stock assets under management (AUM). Its share of total tokenized-stock AUM was 34.2% as of Oct. 20.

Users in emerging and frontier markets generated about 70% of bStocks trading volume since launch. Another 56% of volume took place outside regular U.S. stock-market hours. Both measures were charted through Oct. 11 and describe value traded, rather than the number of transactions.

Binance introduced bStocks in the UAE with products tied to Circle, Nvidia and Tesla. The UAE rollout of bStocks offered trading 24 hours a day, seven days a week, starting at $5. Users can also transfer the products to compatible BNB Chain wallets.

Growth in bStocks AUM has spread across more holdings. Since late August, net inflows have roughly matched or exceeded AUM growth. The five largest assets’ combined share of bStocks AUM fell from about 97% to below 50%, reducing the product’s concentration in a handful of holdings.

User numbers and trading value show different patterns. Gen Z accounts for 46% of bStocks users but 8% of trading value. Millennials generate 78% of trading value and have the longest holding periods among the age groups measured.

Use in decentralized finance (DeFi) has also grown. The utilization rate, which measures the share of active AUM deployed in uses such as lending or liquidity pools, was 10% to 14% for much of the period since mid-August. It reached about 17% on Oct. 19. The comparable range across all tokenized equities was about 5% to 9.5%.

Binance Wallet’s developer tools for DeFi can build transactions that add liquidity to supported bStocks pools. That gives developers a way to connect the tokenized-stock product to one of the DeFi uses reflected in its utilization rate.