Wrapped Stock and ETF Tokens Reach $3.1 Billion, 7.6 Times Their Year-Earlier Level

Wrapped stock and ETF tokens reached about $3.1 billion on Sept. 30, 2026, 7.6 times their year-earlier level, as rising token supply outweighed declines in the shares backing some products. An analysis of token supply and linked share prices put $1.89 billion in added value on the expansion of products already trading a year earlier. It separately estimated $995 million in value tied to products launched during the period, while share-price changes subtracted $121 million. The estimates describe modeled market-value effects, not cash invested, and are not an exact reconciliation of the market’s total growth.

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