Tokenized stocks on X Layer added $32 million in market cap over the past seven days. That was the third-largest increase of any blockchain network over the period.
X Layer is the Ethereum layer 2 network built by exchange OKX, and it had no tokenized equities at all until mid-2026.
From zero to a top-three weekly mover
The weekly number matters more once you see where the network started. X Layer turned on tokenized equities on June 15, 2026, with a market cap of exactly zero.
It got there through a partnership with xStocks, which began in June 2026 and went live shortly afterward. xStocks issues 1:1-backed tracker certificates. Think of each token as a receipt tied to a real share: you get the economic exposure of the stock without holding the share in a traditional brokerage account.
The growth since launch has been steep. X Layer’s xStocks market cap reached roughly $91.5 million by September 12, 2026. By October 16, it was close to $200 million in assets under management.
By late October 2026, estimates of X Layer’s tokenized stock market cap fell between roughly $259 million and $304 million. The range depends on which data source you check, which is pretty normal for a market this young.
That figure ranks X Layer behind Solana. By some measures, it also puts X Layer ahead of Ethereum, the network it is built to scale.
Where X Layer fits in the bigger tokenized equity picture
The wider xStocks ecosystem hit an on-chain market cap of $1 billion by late October 2026, spread across multiple chains. The broader tokenized equity market sits around that same $1 billion level.
Against that backdrop, X Layer’s estimated $259 million to $304 million is a sizable slice of a still-small pie.
Trading activity has followed the supply. A cumulative $2 billion in tokenized stock volume has been routed through partners such as Uniswap.
On the technical side, X Layer was initially built on Polygon’s CDK zkEVM and has integrated elements of the OP Stack. Its public mainnet launched in 2024.
The ICE joint venture and 24/7 trading
The next chapter may involve one of Wall Street’s biggest names. A joint venture between OKX and the Intercontinental Exchange (ICE) filed with the SEC in early October 2026 to list 63 tokenized US stocks for 24/7 trading.
The planned lineup reportedly includes household names such as Nvidia, Tesla, and Apple.
A filing is not an approval. The venture still depends on the regulatory process, and the timeline is not locked in.
Separately, 24/7 trading on X Layer through permissioned Uniswap V4 pools is expected to arrive soon. “Permissioned” means access is restricted to approved participants rather than open to any wallet.
ICE owns the New York Stock Exchange, so a joint venture with a crypto exchange signals that tokenized equities are moving closer to the regulated mainstream.
What this means
For traders, the appeal is access and timing. Tokenized trackers can trade outside normal market hours, and the planned 24/7 venues would extend that further. That flexibility cuts both ways, though, since price moves can happen while the underlying stock market is closed.
There are risks worth tracking. Tracker certificates provide economic exposure, not the full rights of owning a share directly. The value of the structure depends on the backing being real and verifiable, which makes the issuer’s reserves and disclosures central to any trust in the product.
Watch three things in the coming weeks: whether weekly inflows hold near the latest $32 million pace, how the SEC handles the ICE filing, and whether the permissioned Uniswap V4 pools launch on schedule.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.