Tokenized Asset Market Surpasses $43 Billion as Institutional Adoption Accelerates

According to Token Terminal, tokenized financial assets have grown by 37% over the past six months as institutional participation in blockchain technology continues to increase and the market expands beyond traditional segments such as funds and private credit.

The market for tokenized real-world assets (RWAs) has continued to grow even as the broader cryptocurrency sector faces weakness, with the value of onchain financial assets rising significantly during the last six months as more traditional financial instruments move onto blockchain-based infrastructure.

Data from Token Terminal indicates that the value of tokenized assets has surpassed $43 billion, representing an increase of approximately 37% during the past 180 days.

These estimates are higher than those published by several other industry data providers, particularly RWA.xyz, which places the total RWA market value below $33 billion. The gap is likely attributable to differences in methodology, as a wider selection of tokenized financial products is included in Token Terminal’s calculations.

Tokenized funds remain the largest segment of the market, representing close to 80% of overall capitalization. Commodities hold a distant second position with a 16.6% share, while tokenized equities account for approximately 3.8% of the total market value.

Ethereum continues to dominate the tokenized asset landscape, securing 57.8% of the total market value. BNB Chain follows with an 8.5% share, while zkSync Era captures 7.5%. XRP Ledger and Stellar account for 5.8% and 5.4%, respectively, highlighting the steady diversification of the sector beyond the Ethereum ecosystem.

According to Token Terminal data, Sky holds the position of the largest issuer in the tokenized asset market with $6.1 billion in assets. Securitize and Ondo Finance follow closely behind, with each platform managing approximately $3.6 billion in tokenized assets.

Tokenization Expands Beyond Treasurys as New Asset Classes Gain Traction

Tokenization has attracted growing mainstream interest as leading financial institutions continue adopting blockchain-powered infrastructure. Earlier this week, Standard Chartered began coverage of Uniswap and stated that the UNI token could potentially rise by as much as 40 times by 2030, driven by the increasing movement of tokenized assets onto blockchain networks.

The bank forecasts that the decentralized finance market could expand to approximately $2.7 trillion during the same timeframe, with growth expected to be fueled primarily by the continued rise of tokenized financial assets and blockchain-based investment products.

Citigroup has likewise expressed a positive outlook on tokenization, estimating that the sector could grow to $5.5 trillion by 2030 under its base-case forecast. In a more optimistic scenario, the market is expected to expand further and reach as much as $8.2 trillion.

The bank stated that the sector is progressing beyond its experimental phase as greater regulatory clarity continues to emerge. Citi highlighted the integration of tokenization into core issuance workflows by the Depository Trust & Clearing Corporation, the New York Stock Exchange, and Nasdaq as major drivers expected to support future market expansion.

Although tokenized funds and private credit remain the dominant segments of the market, growing momentum is being seen in tokenized equities through platforms such as Ondo Markets and xStocks. This development highlights a broader transformation across the sector, with Binance Research recently concluding that growth within the RWA market is becoming increasingly diversified.

“2026 marks RWA tokenization’s maturation from a Treasury-dominated narrative into a diversified yield ecosystem,” Binance Research said in a report earlier this month.