Block Scholes Crowns Bitget Market Leader in 2025’s Record-Breaking Tokenized Stock Surge

Forget traditional IPOs—the real action's on-chain. The tokenized stock market just exploded, and one exchange left the rest in the digital dust.

The New Market Maker

Analytics firm Block Scholes just dropped its year-end report, and the verdict is clear. Bitget didn't just participate in 2025's historic growth for tokenized equities; it dominated. While legacy finance fiddled with paperwork, Bitget's infrastructure handled the flood of demand, turning synthetic stocks into one of crypto's hottest narratives.

Why Tokenization Won the Year

It boils down to access and efficiency. Want a slice of a mega-cap tech stock? The old way involves brokers, waiting periods, and hefty fees. The new way? A few clicks for a token that tracks the price 24/7, no middleman required. It's borderless investing, stripped of the usual Wall Street velvet ropes—and the 2025 numbers prove the hunger was real.

The Infrastructure Edge

Leading this charge wasn't about luck. It required a platform built for scale, deep liquidity pools, and a user base already primed for asset innovation. Bitget's play wasn't just listing tokens; it was creating the entire ecosystem around them, from seamless trading pairs to robust security—the kind of groundwork that turns a niche product into a mainstream magnet.

A record year, a definitive leader. The message to traditional exchanges is getting louder: adapt or watch your assets get digitized out from under you. After all, why pay for a banker's third yacht when you can just pay the gas fee?

Bitget leads as tokenized stocks close record growth year

The report shows that tokenized assets, long dominated by stablecoins, are now entering a new phase driven by tokenized equities and ETFs. 

Products tracking assets such as the S&P 500, major U.S. equities, and technology stocks have seen meaningful adoption since Q3 2025, supported by improved liquidity, tighter spreads, and growing participation from both retail and institutional investors. This shift reflects a broader demand for always-on markets that operate beyond traditional trading hours.

Data in the report indicates that tokenized stocks generally track their off-chain counterparts closely during regular market hours, with intraday spreads often remaining within narrow ranges. 

Price deviations tend to widen overnight or on weekends, when underlying markets are closed and minting or redemption pauses, underscoring both the opportunity and the structural differences of 24/7 on-chain trading. Even so, the growing consistency of pricing during Core sessions suggests that market infrastructure is maturing quickly.

Bitget’s universal exchange is the model for 2026

At the center of this transition is Bitget’s Universal Exchange model. UEX is designed to bring crypto assets, stablecoins, and tokenized traditional instruments into a single trading environment, removing the need for separate brokerage accounts or fragmented platforms. 

By integrating tokenized stocks and ETFs alongside spot and derivatives markets, UEX enables users to manage and trade a broader range of assets through one interface, funded directly with digital assets such as stablecoins. 

The report also noted that exchanges with integrated infrastructure and deeper liquidity are best positioned to support the next phase of tokenized stock adoption, citing Bitget’s growing activity and market depth as indicative of this shift.

Commenting on the report’s findings, Gracy Chen, Chief Executive Officer at Bitget said, “Tokenization only works if access is simple and markets are liquid. Our focus with UEX is to make real-world assets feel as seamless to trade as crypto, while keeping the transparency and speed that users expect from digital markets.”

The report also points to a convergence in user behavior. A large majority of traders engaging with tokenized stocks already hold crypto assets, suggesting that demand is coming from existing market participants looking to extend their exposure rather than from an entirely new audience. This overlap positions exchanges as the natural gateway for tokenized RWAs, especially as institutions continue to explore on-chain settlement and custody efficiencies.

Thabib Rahman, Block Scholes Research Analyst, said, “The volume of tokenized assets grew exponentially in 2025, in line with a crypto-friendly US administration and growing institutional participation. Bitget has made the initial steps toward this with its Bitget UEX. Still, we believe the market is in its nascent phase — tokenized assets closely track their off-chain counterparts during traditional market hours, though spreads are slightly wider outside those hours. That sets the scene for continued growth in real-world asset tokenization in 2026.”

As tokenized assets expand beyond stablecoins into equities, treasuries, and index-linked products, the report concludes that the market remains early but increasingly scalable. With 24/7 access, enhanced liquidity, and unified portfolio management, Bitget’s evolution into a Universal Exchange reflects how crypto platforms are reshaping how global markets are accessed and traded, bringing digital and traditional assets closer than ever.