Recent data shows that tokenized China-linked equities and Exchange-Traded Funds (ETFs) on BNB Chain have exploded in 2026, with Ondo Global Markets’ China basket leading the charge.
Tokenized China Basket Sees Explosive Growth on BNB Chain
Ondo Global Markets’ basket of tokenized China-linked equities and ETFs on the BNB Chain has seen a remarkable performance year-to-date (YTD), reaching new highs across multiple metrics over the past few months.
The basket tokenizes 11 high-profile Chinese ADRs and common stocks, including Alibaba (BABA), Baidu (BIDU), Bilibili (BILI), Coupons.com (CPNG), Futu (FUTU), JD.com (JD), Li Auto (LI), NIO (NIO), NetEase (NTES), Pinduoduo (PDD), and Trip.com (TCOM). In addition, it contains two China-focused US ETFs, iShares China Large-Cap ETF (FXI) and KraneShares CSI China Internet ETF (KWEB).
Dune data shows that the basket has seen explosive growth, with its market capitalization on the BNB Chain surging 2,850% YTD. Notably, China-linked equities and ETFs have grown from a market cap of $316,000 on January 1 to $9.3 million as of May 4, 2026.
Market cap growth accelerated sharply in early March, recording 27%, 29%, and 38% Week-over-Week (WoW) increases between March 2 and March 16, later peaking in mid-April at $11.1 million.
Cumulative holders followed suit, growing 2,200% YTD from 370 to 8,466 holders. Meanwhile, holders’ growth acceleration peaked between January and February during the Bitget Onchain Challenge, Dune noted.
March also marked the basket’s biggest month based on BNB Chain DEX Volume, with $46.7 million, which also accounted for 99% of all-chain China-cluster volume that month. All-time China-cluster DEX volume since launch stands at $150 million, with roughly 93% on BNB Chain.
According to the data, the network now has a 56.9% share of the total EVM (BNB + Ethereum) market cap for the basket, a significant increase from its 0% share in October 2025. It surpassed Ethereum the week of March 9, peaking at 62.7% mid-April.
BNB Chain leads the basket of tokenized China-linked equities and ETFs in market cap share. Source: Dune.
BNB Chain’s RWA Ecosystem Near Key Milestone
In late October, Ondo Finance and BNB Chain announced the expansion of Ondo Global Markets on the network, seeking to bring tokenized stocks and exchange-traded funds to the blockchain at scale.
Since then, the broader tokenized asset market capitalization on the BNB Chain has doubled its value Year-over-Year (YoY), reaching an all-time high (ATH) of $16.6 billion a month ago.
The network’s real-world asset (RWA) ecosystem has exponentially grown over the past year, making it a leading player in the convergence of traditional finance and decentralized infrastructure.
In late 2025, it became the second-largest blockchain by tokenized asset value, sitting only behind Ethereum’s $15.7 billion. Moreover, the ecosystem’s total value increased 228% Quarter-over-Quarter (QoQ) in Q4 2025.
RWA.xyz data shows that BNB Chain’s distributed asset value currently sits at $3.96 billion, a 12% increase over the past 30 days and a 32% increase since hitting the $3 billion milestone in early March. Now, the network is close to another milestone, nearing 50,000 asset holders, with 49,352. This figure represents a 14.6% monthly increase and a 460% increase YTD.
The ecosystem’s surge has been driven by major institutional tokenized offerings, giving investors seamless on-chain access to top products, such as Circle’s US Yield Coin (USYC), BlackRock’s BUIDL, Franklin Templeton’s Benji Technology Platform, and Matrixdock’s XAUm.
BNB's performance in the one-week chart. Source: BNBUSDT on TradingView
