Base Tokenized Stocks Hit Daily Record of $100 Million

Data from Token Terminal reveals that trading activity on the network reached $730.9 million over the preceding 30 days. Aerodrome has emerged as the dominant venue for these assets, processing $557.1 million—roughly 76% of the total monthly volume. Uniswap v4 followed with $139.3 million, meaning the two exchanges collectively accounted for over 95% of all recorded trades.

Coinbase launched its initial suite of tokenized stocks on August 24, initially referencing Apple, Nvidia, Alphabet, and Meta. The offering has since expanded to ten products, including tokens for Amazon, Microsoft, Strategy, SanDisk, Tesla, and the privately held SpaceX. These assets utilize the B20 standard, designed to support compliance controls and identity verification within smart contracts.

While the tokens are backed one-for-one by underlying shares held through brokerage provider Alpaca, the structure remains distinct from conventional equity ownership. Investors primarily rely on the issuer and custodian to manage corporate actions, such as dividends or stock splits, and legal rights remain subject to specific product documentation. As the market evolves, the Securities and Exchange Commission continues to emphasize that tokenization does not exempt instruments from federal securities laws, with legal status depending on the specific rights and relationships established between the issuer, the broker, and the token holder.