IMF Says Tokenized Equities Are Small and Volatile

The International Monetary Fund says tokenized equities remain a small market with higher volatility and weaker liquidity than traditional shares, even as investors use them for fractional and after-hours trading. Its October 2026 Global Financial Stability Report estimates the market at about $2.3 billion and calls for safeguards as tokenized trading develops. The IMF estimated the broader market for tokenized real-world assets at about $65 billion as of July 31, 2026. Tokenized equities made up a small portion of that total. The figures are based on the report’s analysis, rather than independent measurements from multiple studies. In a sample of five actively traded tokenized U.S. equity products across 11 venues, more than half of trading took place outside regular U.S. market hours. About 80% of trades involved less than one conventional share, which the IMF said points to demand for fractional ownership and round-the-clock access. The sample covered about $345 million in tokenized-equity value over 365 trading days. The same analysis found tokenized equities were about 1.