In an unprecedented development, tokenized China-linked equities and Exchange-Traded Funds (ETFs) on the BNB Chain have experienced explosive growth in 2026. Leading this remarkable trend is Ondo Global Markets’ China basket, which has captivated investors and market watchers alike.
Year-to-date (YTD), Ondo Global Markets’ basket, which comprises 11 prominent Chinese American Depository Receipts (ADRs) and common stocks, has shattered previous performance records. This basket includes notable names such as 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). It also features two US ETFs focused on China: the iShares China Large-Cap ETF (FXI) and the KraneShares CSI China Internet ETF (KWEB).
Recent data indicates that the market capitalization of this basket on the BNB Chain has skyrocketed by an astonishing 2,850% YTD, rising from a mere $316,000 on January 1 to a staggering $9.3 million by May 4, 2026. This meteoric rise highlights the growing interest and confidence in China-linked equities and ETFs.
The growth trajectory of the basket accelerated sharply in early March, with market cap increases of 27%, 29%, and even 38% Week-over-Week (WoW) between March 2 and March 16. This bullish trend culminated in mid-April, when the market cap peaked at $11.1 million.
Furthermore, the number of cumulative holders of the basket has surged by 2,200% YTD, soaring from 370 to an impressive 8,466. Notably, the highest growth in holders occurred between January and February during the Bitget Onchain Challenge.
March emerged as a significant month for the basket, recording the highest BNB Chain decentralized exchange (DEX) volume at $46.7 million, which constituted a remarkable 99% of the total all-chain China-cluster volume for that month. Since its inception, the total DEX volume for the China-cluster has reached $150 million, with approximately 93% occurring on the BNB Chain.
According to recent analysis, the BNB Chain now boasts a 56.9% share of the entire Ethereum Virtual Machine (EVM) market cap for the basket, a striking increase from its previous 0% share recorded in October 2025. In fact, BNB Chain surpassed Ethereum during the week of March 9, peaking at 62.7% in mid-April.
BNB Chain’s RWA Ecosystem Approaches Significant Milestone
In late October 2025, Ondo Finance and BNB Chain announced an ambitious expansion of Ondo Global Markets, aiming to enhance the tokenization of stocks and ETFs on the blockchain at scale. Since then, the broader market capitalization for tokenized assets on the BNB Chain has doubled year-over-year, achieving an all-time high (ATH) of $16.6 billion just a month ago.
The growth of the network’s real-world asset (RWA) ecosystem has been extraordinary, establishing BNB Chain as a frontrunner in merging traditional finance with decentralized infrastructure. By late 2025, BNB Chain had transformed into the second-largest blockchain by tokenized asset value, trailing only behind Ethereum, which holds $15.7 billion.
Recent data reveals that BNB Chain’s distributed asset value currently stands at $3.96 billion, reflecting a 12% increase over the past month and a 32% increase since breaching the $3 billion mark in early March. The network is on the verge of reaching another significant milestone, approaching 50,000 asset holders, currently at 49,352. This represents a monthly increase of 14.6% and an impressive 460% YTD surge.
This remarkable growth has been largely fueled by major institutional offerings in the tokenized asset space, providing investors with seamless on-chain access to top-tier products, including Circle’s US Yield Coin (USYC), BlackRock’s BUIDL, Franklin Templeton’s Benji Technology Platform, and Matrixdock’s XAUm.
