[Tokenized Stock Market Cap Reaches $5.5 Billion, Driven by SpaceX IPO and Exchange Business Expansion] According to The Block, the market cap of tokenized stocks has grown from $2.23 billion at the beginning of the year to $5.5 billion, an increase of approximately 147% over six months, making it the fourth-largest RWA category. This growth reflects a structural demand trend among crypto users seeking access to the stock market, with exchanges responding by embedding stock products directly into their existing platforms. Kraken and Bybit have decided to natively offer the SpaceX IPO on their platforms, allowing users to participate in this highly anticipated private-to-public company transition without leaving the crypto ecosystem. Binance is also providing stock perpetual products for its non-U.S. users, addressing the historically underserved retail demand for access to the U.S. stock market, which has often been limited or had high entry barriers. The SpaceX case particularly highlights this market opportunity.