@bstocksfinance, the Binance tokens backed 1:1 by US-listed stocks and ETFs, have passed $1 billion in assets under management (AUM) about four months after their June 11 launch. @binance des
@bstocksfinance, the Binance tokens backed 1:1 by US-listed stocks and ETFs, have passed $1 billion in assets under management (AUM) about four months after their June 11 launch. @binance describes bStocks as the fastest tokenized equity product to reach that mark. Binance's announcement cites on-chain data from Dune Research as of October 15.
According to the same release, cumulative trading volume has topped $40 billion since launch, averaging more than $300 million a day. The lineup has grown from five tokens at launch to nearly 100 listings. Users have also converted $6 billion between direct stock positions and bStocks at 1:1 parity.
The launch lineup was small. Blockchain.News reported that the first five names were Circle, Micron, NVIDIA, Sandisk and Tesla. The product has moved quickly since. Binance said on July 29 that bStocks had reached $500 million in AUM and more than 46 listings, per Blockchain.News, meaning AUM doubled in under three months.
bStocks are tokenized representations of US-listed stocks and ETFs. Crypto Briefing reports that each token is a BEP-20 asset on BNB Chain, issued by BTech Holdings Limited, a Binance affiliate, and backed 1:1 by underlying US shares held with regulated custodians. Binance says each token redeems into the underlying security itself, not just its cash value.
Holders can trade around the clock, move tokens to self-custody wallets and use them in supported DeFi applications. Binance said in its release that borrowing against deposited bStocks collateral rose to 46.2% by September 10, from 5.5% at the end of June.
There are limits. Binance has said bStocks are certificates representing financial instruments, not direct ownership of the underlying shares. They are not offered in the United States or to US persons, and they carry market, liquidity, custody, regulatory and smart-contract risks, according to Blockchain.News.
The milestone comes as tokenized equities grow across the industry. BigGo Finance reported in August that bStocks had become the second-largest tokenized stock issuer by market capitalization, behind Ondo Finance.
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