Tokenized Stock Altcoins: Does Wall Street Money Reach 7 Coins?
Solana, Ondo, Aave, Uniswap, Aerodrome, Hyperliquid and Chainlink: how tokenized stocks reach each coin through fees, buybacks and burns, and the catches.
Key takeaways
- A tokenized stock landing on a blockchain does not help a coin by itself; the video's test is whether money reaches the token through fees, buybacks or burns.
- Ondo runs one of the biggest tokenized-asset businesses, but according to the video none of its product income currently reaches the ONDO token.
- Chainlink's DTCC work is paid in dollars to the company, so LINK only benefits when some of that money is turned into LINK for the reserve.
- Aerodrome shares fees only with holders who lock their tokens for a set period, and Hyperliquid's buybacks are offset by large team unlocks.
- Coins tied to the same Wall Street trend can benefit in very different ways, so check how each one you hold actually captures value.
Wall Street’s move onto blockchains is reaching several altcoins in different ways, according to a new Bullrunners video. It walks through seven coins tied to tokenized stocks and bonds: Solana, Ondo, Aave, Uniswap, Aerodrome, Hyperliquid and Chainlink. For each, the video asks one question: does any of that money actually reach the token?
This matters for holders because being linked to a big trend is not the same as profiting from it. The video argues that XRP barely shows up where tokenized assets are landing so far, and that even among altcoins, some coins collect fees, some burn supply and some receive nothing at all. Knowing which is which changes how you read the headlines.
How big could tokenized assets get?
Tokenized real world assets could grow into a market of several trillion dollars, according to forecasts cited in the video. Morgan Stanley’s head of digital asset strategy was asked about predictions of a $3 trillion to $10 trillion market by 2030 and said they would definitely be within that range. The video puts the current real world asset market at about $39 billion, so even the low end would mean growth of more than 70 times.
Tokenization means turning a traditional asset, such as a share or a government bond, into a token on a blockchain. The head of Securitize argued in the video that if only 2% of tokenized equities moved onchain, it would be around $3 trillion, roughly double the size of crypto today. BlackRock CEO Larry Fink, also quoted, said he believes the world is “just at the beginning of the tokenization of all assets” and sees tokenized ETFs as a way to bring crypto investors into traditional retirement products.
These are forecasts and opinions, not outcomes. The video’s real focus is narrower: where the money goes once assets arrive.
The test the video applies to each coin
A stock landing on a blockchain does not help that chain’s coin on its own, the video says. What helps is money reaching the coin through three routes:
- Fees paid in the token, which create demand for it.
- Buybacks, where a protocol uses its revenue to buy the token on the market.
- Burns, where bought tokens are destroyed, reducing supply permanently.
The same idea sits behind our guide to metrics for whether LINK captures Chainlink’s value, and it applies to every coin below.
Which seven altcoins does the video cover?
The seven coins have different links to Wall Street and different routes to value, summarized here using the video’s own figures.
| Coin | Link to tokenized assets | How money reaches the token | 30-day figure (per video) | The catch |
|---|---|---|---|---|
| Solana (SOL) | Securitize put US stocks on Solana | Network fees paid in SOL | About $28M in fees | Stocks only just arrived |
| Ondo (ONDO) | Tokenized bonds and stocks | None currently | About $6M paid to product holders | No fee goes to token holders |
| Aave (AAVE) | Loans against tokenized stocks | Part of interest kept funds buybacks | Stock deposits about $4.7M | April bad-debt episode |
| Uniswap (UNI) | Main venue for onchain stock trading | Fees buy and burn UNI | About $10M burned | Fees only in some pools |
| Aerodrome (AERO) | Most stock trading on Base | Fee share to locked holders | About $7.6M shared | Must lock tokens to earn |
| Hyperliquid (HYPE) | 24/7 leveraged trading incl. stocks and oil | Fees buy and burn HYPE | About $70M bought back | About $340M team unlock in October |
| Chainlink (LINK) | DTCC collateral system | Company revenue partly converted to LINK reserve | Reserve adds about 400,000 LINK a month | About 19M LINK unlock each quarter |
Solana and Ondo: where tokenized stocks and bonds are landing
Solana is where Wall Street stocks are landing first, according to the video. On October 8, Securitize, the company that tokenized BlackRock’s money market fund, put real US stocks on Solana, starting with 12 including Apple, Microsoft, Nvidia and Tesla. Each token is described as a legal claim on a real share held for the buyer, and investors in the US, Europe and other approved countries can buy after an ID check. The video says Solana already holds about $4.4 billion in tokenized assets, the third most of any blockchain, and earned about $28 million in fees over 30 days, all paid in SOL.
Ondo is a New York company that turns US government bonds into tokens. The video says the tokenized bond market is worth nearly $15 billion and that Ondo’s USDY, which works like a savings account in token form, has grown to around $2.3 billion, ahead of a BlackRock fund. Ondo is also described as one of the two biggest issuers of tokenized stocks. The catch is direct: none of the roughly $6 million in interest Ondo’s products paid over 30 days reached the ONDO token, because Ondo does not charge a fee that goes to holders. Our explainer on what Ondo Finance does with tokenized Treasuries covers the business in more detail.
Aave, Uniswap and Aerodrome: lending and trading tokenized stocks
Aave lets users borrow against tokenized stocks instead of selling them. According to the video, Aave accepts Coinbase’s tokenized stocks, including Apple, Amazon, Nvidia and Tesla, as collateral for dollar loans for users outside the US. Borrowers pay interest, most goes to lenders, and part of what Aave keeps buys back AAVE. The video notes a bad chapter: in April, Aave lost about $8 billion in deposits after attackers used stolen KelpDAO tokens as collateral to borrow real Ethereum, leaving up to about $230 million in bad debt. Stock deposits are still small, about $4.7 million so far. More on the product is in our piece on Aave tokenized stock loans on Base.
Uniswap is where most onchain tokenized stock trading happens. The video says about 60% of tokenized stock trading outside the biggest exchanges goes through Uniswap, citing around $12.6 billion over 30 days, and that it is the main exchange on Robinhood’s blockchain. Holders voted to switch on fees, so a slice of trading fees now buys and burns UNI, about $10 million over 30 days. The video calls that small and notes it runs only in some pools. Background is in our article on the Uniswap fee switch.
Aerodrome Finance is the main trading app on Base, Coinbase’s blockchain. Coinbase launched tokenized stocks on Base in August, outside the US only. The video says those stocks have passed $1 billion in trading, up about 830% in a month, with about 85% going through Aerodrome, which shared around $7.6 million in fees with holders over 30 days. The catch: only holders who lock their AERO for a set period earn a share. Tokens left free to sell earn nothing.
Hyperliquid: trading when Wall Street is closed
Hyperliquid is an exchange for leveraged bets on prices at any hour, including weekends. The video says money on the platform has climbed to $14.3 billion, with HYPE at an all-time high, and about a quarter of bets are on non-crypto markets such as stocks, indices and oil. When the Iran conflict escalated over a weekend in March, the video says it was one of the few places to trade oil.
Almost every fee Hyperliquid earns goes into a fund that buys and burns HYPE, about $70 million over 30 days according to the video, more than any other coin covered. The other side is supply: about $340 million of HYPE unlocked for the team in October, more than a month of buybacks arriving at once.
Chainlink and the DTCC: why the deal does not pay in LINK
Chainlink’s software was chosen by the DTCC, the company that settles almost every US stock trade, to help run a new system for moving collateral around the clock. Collateral is the cash and bonds firms lock up in case a trade goes wrong. It moves only during banking hours, so firms keep extra idle. Nasdaq CEO Adena Friedman has said tokenization could unlock tens of billions of dollars across the system, the video reports, and Chainlink co-founder Sergey Nazarov, now on a CFTC advisory committee, argued tokenized equities will create onchain value that new markets form around.
The video stresses the point people get wrong: the DTCC pays Chainlink the company in dollars, not LINK. The coin only benefits when some of that money becomes LINK in Chainlink’s reserve, which holds about 6 million LINK and adds roughly 400,000 a month. Around 19 million LINK still unlock each quarter, so the reserve is not keeping up yet. Our article on why LINK supply outpaces its reserve explores that gap.
A checklist for any coin tied to tokenization
The video’s closing point is that coins linked to the same trend will not all benefit the same way. Before treating a partnership headline as good news for a token, work through these questions:
- Is the asset or deal actually live, or announced for later?
- Is the coin paid as a fee, or does the customer pay a company in dollars?
- Does any revenue buy back or burn the token, and how much over the last 30 days?
- Do you have to lock or stake the token to receive anything?
- How much new supply unlocks in the same period, and does it outweigh buybacks?
- Is there a past exploit or bad-debt event that shows the risks?
What to watch next
The numbers worth tracking are the ones the video uses: 30-day fees, buybacks and burns against token unlocks. Watch whether Ondo ever adds a fee that reaches its token, whether Uniswap extends fees beyond some pools, whether the DTCC collateral system goes live, and whether Chainlink’s reserve starts outpacing its quarterly unlocks. The trillion-dollar forecasts remain forecasts. The flows into each token can be checked month by month.
Frequently asked questions
How big could the tokenized real world asset market get?
According to the video, Morgan Stanley's head of digital asset strategy said forecasts of a $3 trillion to $10 trillion market by 2030 would definitely be within range. The video puts today's real world asset market at about $39 billion, so even the low end would mean growth of more than 70 times. These are forecasts, not certainties.
Does the DTCC pay Chainlink in LINK tokens?
No. The video says the DTCC pays Chainlink the company in dollars, like any software supplier. LINK holders only benefit when some of that money is converted into LINK, for example through Chainlink's reserve.
Does the ONDO token earn anything from Ondo's products?
Not at the moment, according to the video. Ondo's products paid about $6 million in interest to holders over 30 days, but Ondo does not charge a fee that goes to ONDO token holders.
Which blockchain did Securitize put US stocks on?
The video says Securitize put real US stocks on Solana on October 8, starting with 12 stocks including Apple, Microsoft, Nvidia and Tesla. Each token is described as a legal claim on a real share, available after an ID check to investors in the US, Europe and other approved countries.
How do Uniswap and Hyperliquid reduce token supply?
Uniswap holders voted to switch on fees, so part of what traders pay buys UNI and burns it, about $10 million over 30 days per the video. Hyperliquid sends almost all its fees into a fund that buys and burns HYPE, about $70 million over 30 days according to the video.
Education and commentary only, not financial advice. Crypto is volatile and you can lose money. Do your own research and speak to a qualified advisor before making investment decisions. Figures and quotes are as reported in the video on October 16, 2026 and may have changed since.
