Tokenized stock monthly transfer volume surges 416% to $295B

The 416% surge in monthly transfer volume signals that tokenized equities are moving beyond pilot phases into active institutional use, though the concentration of activity and underlying market structure remain unexamined. This growth raises the question of whether settlement efficiency or speculative churn is driving the volume, which will determine durability. The next focal point is whether liquidity deepens across more venues or remains clustered, as that will test the asset class's claim to parity with traditional markets.