Reserve accounts hold 44% of tokenized ETF tokens as holder count surges 11,803%

The tokenized ETF market is growing fast. On-chain data shows that reserve accounts, wallets that aggregate holdings rather than represent individual investors, control 44.3% of all tokenized ETF tokens. Meanwhile, the three largest issuers account for 79.6% of all unique holders in the space. The total count of unique tokenized ETF holders hit a record 44,400 as of May 20, 2026. That is an increase of roughly 11,803% from a baseline of around 373 wallets. What is actually happening here Tokenized ETFs are on-chain representations of traditional exchange-traded funds. Think of them as a wrapper that lets you hold something like a Treasury ETF or an equity index fund directly in a crypto wallet, trade it around the clock, and plug it into DeFi protocols. Traditional ETFs settle in two business days, cannot be used as DeFi collateral, and go dark every weekend. Tokenized versions solve all three problems at once. The market cap for tokenized equities has crossed $2 billion, and Ondo Finance sits at the top of the leaderboard with roughly 42% market share. Other notable players include Backed Finance and Dinari on the issuer side, with Securitize acting as key infrastructure for token...