The on-chain tokenized stock market capitalization has hit a record high of $3.5 billion, rising 33% in September and approximately 860% over the past year. On September 17, 2026, the SEC published an Innovation Exemption valid until September 17, 2031, creating a five-year sandbox for permitted trading of tokenized NMS stocks. Jupiter, the main on-chain rail on Solana, saw its tokenized stock volumes surge 104% month-over-month. At the scale of the stock market, this record remains modest: a single US mid-cap stock is already worth more than the $3.5 billion of the entire category.
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