According to @Matt_Hougan, the US equity market is about 68 trillion dollars while tokenized stocks total about 670 million dollars, source: @Matt_Hougan on X, Dec 8, 2025. Based on those figures, tokenized equities represent roughly 0.001 percent penetration, about a 100,000 to 1 size gap between traditional and on-chain equity, source: @Matt_Hougan on X, Dec 8, 2025. For trading, this ratio quantifies the minimal on-chain float relative to the underlying market and highlights how small absolute inflows can noticeably change market share calculations, based solely on the computed ratio from the cited figures, source: @Matt_Hougan on X, Dec 8, 2025.