US Stock Tokenisation Grows, Expanding Access to Global Assets
The development of US stock tokenisation is gaining significant attention as regulators in several countries begin preparing regulatory frameworks for assets represented in digital form. In the United States, the U.S. Securities and Exchange Commission (SEC) has provided a temporary and conditional regulatory pathway for trading tokenised stocks, while Indonesia’s Financial Services Authority (OJK) is currently preparing regulations regarding the tokenisation of Real World Assets (RWA).
Ryan Lymn, Chief Operating Officer of Bittime, stated that these developments indicate that tokenisation is becoming a central part of discussions regarding access to global assets. He noted that the direction of regulation is a critical factor to monitor as tokenised assets continue to evolve.
“The development of Tokenized U.S. Stocks shows that tokenisation is increasingly becoming part of the discussion on the future of access to global assets. For Indonesia, this development is important to observe as regulatory frameworks are being prepared for tokenised assets,” Ryan said on Saturday (27/09/2026).
In its official announcement on 17 September 2026, the SEC granted temporary, conditional exemptive relief for a five-year period to specific venues to facilitate the trading of tokenised National Market System (NMS) stocks.
Under this framework, stocks tokenised through qualifying venues must provide holders with the same rights and privileges as traditional stocks of an equivalent class. For stocks tokenised by third parties not affiliated with the issuing company, venues are also required to notify the issuer and provide an opportunity to lodge an objection.
These regulatory developments are occurring amidst the growth of the tokenised stocks market. As of 1le September 2026, the distributed value of tokenised stocks reached approximately US$2.92 billion, with around 3.63 million holders and 1.99 million active addresses.
In Indonesia, the OJK, in its Monthly Board of Commissioners Meeting Press Release for April 2026, stated that it is drafting the OJK Regulation Draft (RPOJK) concerning the Offering of Tokenised Assets or Real World Asset (RWA) Tokenisation.
According to the OJK, the prepared regulations will cover the criteria for RWAs that can be tokenised, the procedures for conducting tokenised asset offerings, licensing processes, consumer protection, as well as the mechanisms for recording and financial reporting by token issuers.
The drafting of the RPOJK is a follow-up to the approval of several OJK Sandbox participants who are developing RWA tokenisation business models.
“A clear regulatory framework is a vital part of the development of tokenised assets. As global innovation continues to evolve, the direction of regulation in Indonesia is also a key factor in ensuring that RWA development proceeds with adequate governance, transparency, and consumer protection,” said Ryan.
Globally, the 2026 RWA Report from CoinGecko Research noted that the market capitalisation of tokenised stocks reached US$486.69 million by the end of March 2026. Spot trading volume for tokenised stocks was recorded at US$15.12 billion in the first quarter of 2026.
This trend is also evident in the activity of Tokenised U.S. Stocks on Bittime. According to Bittime’s report on RWA developments, transactions of Tokenised U.S. Stocks on Bittime increased 2.5 times in July 2026 compared to June 2026.
Currently, Bittime provides 34 Tokenised U.S. Stocks, offering Indonesian users access to digital assets representing shares of various global companies. Available assets include MSTRX, CRCLX, TSLAX, NVXAX, and SPYX.
Ryan stated that the growth in transactions demonstrates an interest in accessing global assets through the digital ecosystem.
“The growth in Tokenized U.S. Stocks transactions shows an interest in accessing global assets through the digital ecosystem. As Indonesia prepares its RWA regulatory framework, Bittime will continue to follow global developments while prioritising compliance, education, and risk understanding,” said Ryan.
Tokenised stocks still carry risks, including changes in the value of the underlying assets, liquidity, the structure of issuance and custodians, as well as market and technological risks. Users need to understand the structure, mechanism, characteristics, and applicable terms of each product before conducting transactions.