Tuesday, Nov 3, 2026 — The registrars walked in, Securitize doubled down, and the third-party venue kept shrinking

The Tape

KPI	Figure	Source, date
Market cap (rwa.xyz)	$3.58B distributed value, +10.26% in 30d — tracker read. Unchanged from the Nov 1 read; every token value repeats Nov 1 to the dollar, so Monday's session is not marked; 6,683 assets listed, +12	rwa.xyz, as of Nov 2, 2026
Market cap (Token Terminal)	Dashboard did not render, twelfth day — tracker read. Last quoted $3.3B excluding ETFs (Cointelegraph, Oct 26); last full read $4.0B including ETFs, Oct 17	Token Terminal via Cointelegraph, Oct 26; via CryptoTimes, Oct 17
30-day transfer volume	$9.85B, −88.21% vs prior 30d — tracker read. Down $0.36B from $10.21B on Nov 1 as hack-week activity keeps rolling off the window. Solana alone printed $3.9B of tokenized-stock trades in October, from $4.4B in September	rwa.xyz, Nov 2, 2026; TokenPost / Solana, Nov 2
Holders	4.58M, +8.97% in 30d — tracker read (4.57M on Nov 1). Monthly active addresses printed 78,107, −96.66%, against 2,337,428 on Nov 1: a data break we do not carry until it holds two days. Birdeye's deflated count stands: 791,715 unique wallets above $1 (Oct 21)	rwa.xyz, Nov 2, 2026; TechFlow / Birdeye, Oct 27
Lead issuer share	bStocks $1.3B ≈ 36% of $3.58B (our division); Ondo $912.6M ≈ 25.5%; xStocks $595.8M ≈ 16.6%; Securitize $259.0M ≈ 7.2% (27 assets; the 13 new stocks are not yet counted); Reality $161.1M; Robinhood $148.5M; Figure $51.3M; Superstate $46.4M; Coinbase $37.5M; WisdomTree $27.7M — tracker read	rwa.xyz, Nov 2, 2026
Top chain share	By value: BNB Chain 47.25% ($1.46B), Ethereum 26.24%, Solana 20.20% of $3.09B across five chains, week ending Oct 18 — tracker read. Token Terminal's Oct 17 read: BNB Chain 37.5%, Ethereum 20.8%, Solana 18.0%. Nothing newer found; rwa.xyz shows no aggregate	TechFlow / Birdeye, Oct 27; Token Terminal via CryptoTimes, Oct 17
ETF share	19.9% ($792.8M) — tracker read, last verified Oct 17; nothing newer found. QQQB $97.7M sits seventh among tokens; IVVon $59.8M, SPYx $56.6M, SPYon $47.8M follow	Token Terminal via CryptoTimes, Oct 17; rwa.xyz, Nov 2

The Open

NYSE signed Broadridge, Computershare, Equiniti and Superstate to its planned tokenized venue on Monday. Those agents keep the share registers of nearly 5,000 listed companies, 99% of the S&P 500. Hours earlier Securitize doubled its on-chain stock list to 25 names on Solana, adding Exxon, Disney and Merck as 1:1 entitlement tokens, the house's authorized-share class.

THE 3AM LINE: the Nasdaq closed −1.1% and Bitcoin slid under $77,000, but rwa.xyz's Nov 2 read repeats Nov 1 to the dollar, so the tape has not marked Monday; Binance says more withdrawals open from today and its full proof of reserves is due today UTC.

Top of the Tape

NYSE added Broadridge for on-chain shareholder voting and Computershare, Equiniti and Superstate as transfer agents on Nov 2; the agents serve nearly 5,000 listed companies and 99% of the S&P 500. Translation: an authorized share is a token the company's own register recognizes, so votes and dividends follow it; holders could vote from a wallet, a broker or ProxyVote. Launch follows regulatory approval, no date. (CoinDesk; Broadridge / PR Newswire)
Securitize added 13 US stocks to Securitize Stocks on Nov 2, 25 in all, on Solana, USDC-settled, with Jump Trading liquidity; the first 12 launched Oct 8. Translation: each token is a 1:1 security entitlement under UCC Article 8, the rulebook for brokered holdings, with dividends, votes and a path to a registered share; the house files it under authorized shares. Issuers did not sponsor it; eligible investors only. New: XOM, CRM, GME, DIS, ANET, FLEX, JNJ, LMT, LITE, MRK, STX, TXN, UBER. (Securitize / PR Newswire; CoinGape)
OKXICE's objectors stood at 50 of 62 proposed symbols on Monday; IREN confirmed its objection, and Decrypt quotes an executive saying a Nasdaq representative suggested objecting. Translation: an objection blocks only third-party tokens on that one venue. Nvidia, Microsoft and Alphabet sit on both Securitize's list and the objector list, so their tokens trade on Securitize Markets and would not on OKXICE. (Decrypt via Yahoo; CCN via Yahoo; Simply Wall St via Yahoo)
Solana carried $3.9B of tokenized-stock trades in October, from $4.4B in September; Sunrise, one issuer there, reports $2B of monthly volume and 500,000 holders, double September. Translation: volume fell 11% in the month of the Binance theft while one issuer's holders doubled. Sunrise is not in our registry; treat its figures as self-reported. (TokenPost; Bloomingbit)
Binance says more withdrawals open "starting Nov 3," with a second reserves snapshot Nov 4; DefiLlama has its assets down $16.5B to $128.3B since Oct 29. Translation: bStocks, 1:1 backed claims worth $1.3B and 36% of this tape, are still unnamed in any phase; today's list is the first thing to read. (Bitcoin.com News; Coin Edition; Forex Crunch)

Monday in one line: the registrars walked in, Securitize doubled down, and the third-party venue kept shrinking.

Chart of the Day

"Two rails, one month." Two lines on one date axis, Oct 8 to Nov 2: OKXICE's objector count climbing while Securitize's on-chain stock count steps up, so the third-party rail shrinks as the authorized-share rail doubles.

Data points. OKXICE objectors: 9 on Oct 15, 16 on Oct 19, 26 on Oct 26, 38 on Oct 28, 50 on Oct 30, against 62 proposed symbols. Securitize Stocks: 12 on Oct 8, 25 on Nov 2. Sources: Decrypt via Yahoo (9, 38, 50), CCN via Yahoo (16, 62 proposed), crypto.news (26 on Oct 26, carried), Securitize / PR Newswire (12, 25). Caveat: The Defiant counted 63 proposed symbols; label the ceiling "62–63".

Flow Watch

No re-mark: rwa.xyz's Nov 2 read repeats Nov 1 to the dollar on SECZ ($202.2M), SPCXB ($171.1M), CRCLB ($146.1M) and INTCB ($39.3M); Monday's −1.1% Nasdaq is not in the tape. Transfer volume $9.85B from $10.21B; holders 4.58M from 4.57M (rwa.xyz, our subtraction).
Data break: monthly active addresses printed 78,107 against 2,337,428 on Nov 1 with no matching move elsewhere; a tracker fault until it holds two days (rwa.xyz).
Issuers: Ondo +$3.2M to $912.6M (tracker); xStocks −$0.8M to $595.8M (backed claim); all others unchanged (rwa.xyz).
Exchange: Binance $4.649B out, $1.01B in, 06:00–15:30 UTC Nov 1; DefiLlama assets $128.3B from $144.9B on Oct 29 (Bitcoin.com News).
Weekend share: no new read; Oct 30's $268.7M a day, 52.8% of weekday, stands (TokenPost, single source).
Mints, redemptions, whale moves, premiums or discounts: nothing reported Nov 2.

The Rulebook

US. Moved by plumbing, not by rule. NYSE's platform adds Broadridge governance and three transfer agents, launch after approval (CoinDesk; Broadridge). The SEC's TSV page is unchanged since Oct 21, three venues (SEC). For a holder: a wallet vote is on the roadmap for authorized shares; backed claims, trackers and derivatives still carry none.

EU. No change. ESMA's DLT28 proposal and tokenised-collateral call for evidence stand (ESMA).

Other. Binance: a zero-knowledge proof on the Oct 31 snapshot covers ten assets, a second snapshot follows Nov 4, and more withdrawals open from today (Coin Edition). For a holder: the bStocks exit is still unconfirmed, and the proof does not name them.

Deal Flow

Broadridge signed with NYSE for on-chain governance and digital transfer agency; its DLR already tokenizes $360B a day (Broadridge / PR Newswire, Nov 2).
Computershare, Equiniti (being acquired by Bullish) and Superstate joined NYSE's platform, after Securitize and tZERO (CoinDesk, Nov 2).
StoneX's Mark Palmer reiterated his positive rating on SECZ, calling DTCC's launch a validation; SECZ near $7.30 (The Block, Nov 2).
Bybit mStocks due this month: Halo Prime Ltd of the BVI issues limited-recourse debt obligations with Mantle, a debt claim, not a share (Cryptometer, Oct 13; watch item).
Securitize: Q3 results Nov 9, 4:15 pm ET (StockTitan, carried over).
No raises, M&A or new licenses found for Nov 2.

The Playbook (Pro)

Price the 13 before the venues do. Securitize's new names trade off-hours on Solana against USDC with Jump Trading quoting, and nobody has published a spread. Pull XOM, JNJ, MRK and DIS tokens against their 4 pm closes at 8 pm ET and 7 am, and log the premium or discount and the depth at $25,000 a side. Then cross the 25 with the OKXICE objector list: NVDA, MSFT and GOOG sit on both, so map which token can reach which venue. That is the first off-hours basis table for authorized-share entitlements, the test we ran on bStocks last week.

RISK LINE: eligible investors only, first-week books can be one quote wide, per-token data on rwa.xyz sits behind a login, and neither venue has a launch date.

Odds

Polymarket, "First to list tokenized stocks in the US?": Robinhood 38% (30% on Nov 1), no listing by Dec 31, 2027 19.4% (38%), Coinbase 17.4% (15.8%), Kraken 9.8% (13.1%), Gemini 9% (7%); volume $106,075 from $97,869, about $8,200 traded Monday, the first move in a week. Coinbase ladder ($11,700 from $10,458): Dec 31 32% (27%), Mar 31 52% (68%), Jun 30 55% (73%); the Oct 31 leg no longer shows. Thin books. No Kalshi market found.

Sign-off

The registrars showed up, Securitize doubled its list, and the tape still hasn't marked Monday. That's the tape. The bell isn't ringing.

Corrections and disclosures

One correction to the Nov 2 issue: we gave OKXICE's original list as 63 symbols, citing The Defiant; Eleanor Terrett's count via CCN and 24/7 Wall St is 62, and we now carry 62 with the discrepancy noted. One update: that issue said Binance's full zero-knowledge verification was due Nov 3; Coin Edition reports a proof on the Oct 31 snapshot completed Nov 2 for ten assets, with a second snapshot Nov 4, while Bitcoin.com News still has the full proof landing Nov 3 UTC. No corrections to the Tape.

Team holdings: [editor to insert]