Tokenized stocks are rapidly expanding. The total market cap of onchain tokenized stocks is now up to a record $1.6 billion. This marks a +240% increase year-to-date as tokenization gains popularity and equity markets have experienced a historic rally. Additionally, trading volume is also gaining momentum as xStocks and Ondo, two of the most active spot providers in the space, have both posted ~200% growth in monthly active trading volume this year. Amid this growth, Jupiter, the largest onchain platform, has processed over $400 million in onchain tokenized stock spot volume, becoming a key venue for tokenized spot trading. Meanwhile, in a sudden shift, Bloomberg reported that the SEC is now preparing a framework for the trading of tokenized stocks. Tokenization is accelerating.(The Kobeissi Letter)