bStocks Becomes Largest Tokenized Stock Issuer: From Launch to $1.5 Billion in 145 Days On November 10th, Binance released data showing that the tokenized stock market's AUM reached a new high of $4.8 billion, with bStocks' own AUM surpassing $1.5 billion, making it the world's largest tokenized stock issuer by size. These three figures are easily confused; looking at them separately clarifies things: 1️⃣ $1.5 billion is bStocks' own assets under management. 2️⃣ Over $3 billion is the total traditional financial assets held by Binance users through Direct Stocks and bStocks. 3️⃣ $4.8 billion is the AUM of the entire tokenized stock industry. bStocks took 125 days to reach $1 billion from its launch in June and 145 days to surpass $1.5 billion. During the same period, the overall industry grew by 164%, and even excluding bStocks, the rest of the market grew by 81%. Its market share has risen rapidly from less than 1% to over 30%, but compared to the traditional stock market, tokenized stocks still represent a very small portion. One key difference at the product level is that supported bStocks can be exchanged 1:1 for corresponding real-world stocks, or vice versa, with no transaction fees. Users can choose their holding method within the same platform without needing to open a separate external brokerage account. Other barriers to entry are relatively low: minimum investment of $5, 24/7 trading support, each token backed 1:1 by real-world stocks or ETFs held by a regulated custodian, with reserves checked daily and publicly available on the Proof of Collateral page. User data also reflects some real-world needs: 56% of trading volume occurs outside of regular US stock trading hours; emerging and frontier markets contribute approximately 70% of trading volume; Generation Z accounts for 46% of total users, with an even higher proportion trading on weekends; Millennials hold the most shares, contributing 78% of trading value. Investors in many regions have historically faced high barriers to entry when it comes to accessing US-listed stocks; this type of product provides an alternative, lower-barrier exposure. It is still in its early stages. The record-breaking scale indicates genuine demand, but it's still far from the level of the traditional stock market. Eligible users (outside the US) can first learn how two-way conversion works, then verify asset backing on the Proof of Collateral page before deciding whether to try it with a small amount.