Tokenized real-world assets have climbed to about $65 billion as institutions continue moving funds, bonds, credit products, and cash instruments onto blockchain networks.
The market is up 44% from roughly $45 billion at the start of 2026, although growth has slowed from the 232% surge recorded in 2025. The sector has expanded from nearly $100 million in 2021 to more than $60 billion today.
Institutions Drive Slower but Steady Growth
Traditional finance firms remain central to the growth of tokenized real-world assets. BlackRock’s BUIDL fund has crossed $2 billion, while Treasury-backed products from Ondo Finance and Franklin Templeton continue to support market depth.
Tokenized US Treasuries remain the largest category, with about $12.78 billion in value. Commodities follow with $5.4 billion, while asset-backed credit stands near $3.19 billion. Tokenized equities are also nearing $1 billion, supported by $2.94 billion in monthly transfers.
Ethereum Leads as Networks Split Market Share
Ethereum holds about one-third of tokenized assets, but no single blockchain controls the market. Provenance Blockchain holds roughly 27%, mainly through Figure Lending and mortgage-related issuance.
BNB Chain, XRP Ledger, and Solana each account for nearly 6% of the market. Solana’s RWA sector grew 43% to $2.01 billion in the first quarter and generated $342.2 million in on-chain economic activity.
Franklin Templeton has also expanded its FOBXX government money market fund to Stellar and Polygon. Ondo Finance controls about 60% of the tokenized equity market, with $557 million spread across 230 assets in eight categories.
Major Firms Expand Tokenized Fund Plans
BlackRock filed two new tokenized fund applications with the SEC last week, including a stablecoin reserve vehicle designed for on-chain share issuance through Securitize. JPMorgan launched its first tokenized money market fund on Ethereum in December 2025 and filed for a second fund in May.
DAMAC also partnered with MANTRA on a $1 billion real estate tokenization project in January 2025. These moves show growing interest in blockchain-based settlement, broader asset access, and programmable financial products.
Forecasts still vary widely. Boston Consulting Group and Standard Chartered Bank expect the tokenized asset market to reach $16 trillion by 2030. McKinsey projects a smaller but still significant $2 trillion market by the same year.
