What are bStocks?
A bStock is a tokenized US share that trades onchain around the clock. Here is how it works and which are trading on WOOFi...
TL;DR: bStocks are tokenized US stocks issued by Binance, with every token backed 1:1 by real shares held by regulated custodians. They trade onchain around the clock, and WOOFi currently provides liquidity for four: SpaceX, NVIDIA, Tesla, and SK Hynix. The 105-token bStocks lineup holds about $1.2 billion and trades about $548 million a day on a 7-day average, more than the tokenized stocks from xStocks, Ondo, Coinbase, and Robinhood combined.
Traditional stock markets run on bank hours, two-day settlement, and accounts that not every person on earth can open. A bStock removes all three constraints from the holder's side. You hold the token in your own wallet, you trade it whenever you want, and you settle in seconds.
What a bStock actually is
bStocks are tokenized securities issued by Binance-affiliated entity BTech Holdings Limited under the compliance framework of Abu Dhabi Global Market (ADGM). Every bStock token issued on-chain is fully collateralized on a 1:1 basis by real U.S. stocks held by regulated custodians.
A daily Proof of Collateral verifies the backing, and the tokens run as BEP-20 tokens on BNB Smart Chain.
The adoption numbers
There are many tokenized equity issuers, but Binance has been the most successful, largely in part to their vast userbase.
| Issuer | Tokens | TVL (market cap) | 7-day avg daily volume |
|---|---|---|---|
| bStocks | 105 | $1.242B | $548M |
| Ondo | 198 | $914M | $117M |
| xStocks | 76 | $998M | $90M |
| Coinbase tokenized stocks | 19 | $43M | $117M |
| Robinhood stock tokens | 52 | $152M | $141M |
Source: CoinGecko API, 7 November 2026. TVL is the sum of token market caps. Volume is each token's 7-day average daily volume, summed. Seven tokens with no CoinGecko price history (3 Ondo, 4 xStocks) are left out of the volume figures.
bStocks carry the largest TVL of any tokenized equity programme, and they do it with fewer tokens than Ondo. Their daily volume is 4.7 times Ondo's and 6.1 times xStocks'. It is also higher than Ondo, xStocks, Coinbase, and Robinhood put together.
Single-asset scale is just as telling. SpaceX sits at rank 157 by market cap across all of CoinGecko, ahead of most native crypto assets. Circle, Alphabet, SanDisk and Micron all sit inside the top 350.
That is a young product line, live since June 2026, already trading at the volume of a mid-cap exchange listing.
The full lineup, and where the big names sit
The interesting detail is which companies carry weight and which do not.
| Token | Company | Market cap | 24h volume | On WOOFi |
|---|---|---|---|---|
| SPCXB | SpaceX | $206.7M | $70.0M | Yes |
| CRCLB | Circle | $148.9M | $21.7M | No |
| GOOGLB | Alphabet | $114.8M | $11.4M | No |
| SNDKB | SanDisk | $92.5M | $74.3M | No |
| MUB | Micron | $69.8M | $19.6M | No |
| INTCB | Intel | $69.4M | $10.9M | No |
| SOXLB | Semiconductor 3X ETF | $59.7M | $46.0M | No |
| NVDAB | NVIDIA | $49.9M | $31.7M | Yes |
| MSTRB | Strategy | $47.2M | $15.3M | No |
| COINB | Coinbase | $17.1M | $1.9M | No |
| HOODB | Robinhood | $5.0M | $1.5M | No |
The pattern worth noting: the largest bStocks are not always the largest companies. SpaceX leads because it is the token with the most demand for pre-IPO and private-market exposure. Alphabet carries a quarter of the market value that SpaceX does. Apple and Microsoft, the two biggest companies on earth, sit near the bottom of the list.
That is what an early tokenized equity market looks like. Demand clusters around assets that are hard to reach through a normal brokerage, not the ones already easy to buy.
Anthropic's upcoming IPO is sure to be another highly traded tokenized stock, coming later in 2026.
Why hold one
It is easy to use
No brokerage account, no transfer paperwork, no waiting for a market open. The token sits in the same wallet you already use for everything else onchain. One asset list, one balance, one interface.
It is permissionless
Anyone with a wallet can hold and trade a bStock. There is no gatekeeper deciding whether you qualify for access, and no account application to be declined. The market runs at 3am on a Sunday exactly as it runs at 10am on a Tuesday.
One jurisdiction limit applies: US citizens and residents cannot participate in bStocks. That is a regulatory boundary, not a technical one.
Dividends accrue automatically
When the underlying share pays a dividend, or splits, the adjustment is applied onchain through a multiplier implemented as BEP-677 (Scaled UI Amount). Your displayed balance of the token changes to reflect it, in wallets that read the scaled amount. There is no claim form, no distribution date to track, and no cash sitting idle waiting for you to sweep it.
The mechanism matters for compounding. Your position grows while it is held, without an action from you.
More yield is coming
A tokenized share you can move freely is usable collateral. Lending markets, liquidity pools, and structured strategies can all take a bStock as an input, which turns a static holding into a productive one.
That layer is early but moving fast. Borrowing against deposited bStocks collateral climbed 8.4-fold between the end of June and September 2026, from 5.5% of deposits to 46.2%. As more protocols integrate tokenized equities, holding a bStock stops being a pure price bet and starts being a position that earns while it waits. Hint: Keep an eye on WOOFi Earn.
More listings are coming
More bStocks are coming soon to WOOFi at woofi.com, alongside crypto pairs, with the same wallet and the same self-custody model.
Sources: market data from the CoinGecko API, 7 November 2026. WOOFi's listed tokens read from its published swap support endpoint. Backing and the multiplier from BNB Chain's bStocks introduction, collateral growth from Binance's October 2026 release, and cross-issuer tracking from RWA.xyz.