a16z: accelerated expansion of the monetized stock market, with the ratio of AI to chips rising to 15.5 per cent

On 22 July, a16z crypto wrote that, as at the end of June, the total market value of monetized equities was approximately $1.7 billion, more than five times the $329 million a year earlier and had become one of the fastest-growing classes of monetized assets. More than half of the current market value was derived from assets that had not been in the chain a year earlier, indicating that growth was driven mainly by new issuances, rather than only by the rise in the price of lower-level equities. Market structures have also changed significantly. The market value of encryption-related products fell from 79 per cent a year ago to 21 per cent; the "other" category, consisting of hundreds of small targets, rose to 35 per cent. The share of large technology units rose from 0.6 per cent to 10.6 per cent, and that of ETFs to index products from 4.5 per cent to 17.3 per cent. AI has the fastest growth with chips-based monetized shares, with market value increasing from 0.3 per cent in June 2025 to 15.5 per cent. The chain activity is increasing. The monthly transfer of monetized shares in June reached $9.22 billion, an increase of more than 170 times the $53 million in the same period last year, and related transactions included chain sales, wallet transfers and deposit of collateral into the DeFi agreement. Institutional infrastructure is accelerating land landing. DTCC has completed its first exchange of a monetization and stock production environment in Canton Network; Robinhood has entered into a chain of ownership; the parent company of New Haven and OkX have formed a joint venture, which is planned to provide a monetization of New York stock upon approval; and Coinbase and Binance have launched or are planning to introduce a monetization equity service for non-United States users。