Real-world tokenized assets have hit around $65 billion, an increase of 44% compared to January, amid the increasing trend by traditional finance companies to put their money, bonds, and cash products on blockchain platforms.
As Cryptopolitan reported in January, on-chain RWAs surged 232% through 2025, powered by BlackRock’s BUIDL fund crossing $1 billion and Treasury-backed products from Ondo Finance and Franklin Templeton.
The 2026 pace has not matched that rate. The market grew from roughly $100 million in 2021 to over $60 billion today, per The Block, with tokenized US Treasuries alone reaching $14 billion as of May.
Five networks splitting the market
Ethereum accounts for about one-third of tokenized assets, backed by BlackRock’s BUIDL fund that has surpassed the $2 billion mark and has diversified into multiple chains.
Provenance Blockchain accounts for roughly 27%, driven mostly by Figure Lending and mortgage-related issuance. BNB Chain, XRP Ledger, and Solana each sit near 6%.
The Solana RWA market increased by 43% to reach $2.01 billion during Q1, according to a Messari report. In addition, Solana generated $342.2 million worth of on-chain economic activity. Franklin Templeton extended its FOBXX government money market fund to the Stellar and Polygon blockchains.
Ondo Finance owns 60% of the tokenized equity market with $557 million across 230 assets in eight different categories, according to rwa.xyz data.
What the largest players are doing now
BlackRock filed two new tokenized fund applications to the SEC last week, including a stablecoin reserve vehicle meant for on-chain share issuance via Securitize, according to Cryptopolitan.
JPMorgan launched its first tokenized money market fund on Ethereum in December 2025 and filed a second one in May. DAMAC partnered with MANTRA on a $1 billion real estate tokenization project in January 2025.
Tokenized equities are approaching the $1 billion mark with a $2.94 billion monthly transfer volume, an 85.78% jump over 30 days.
US treasuries continue to lead the way with $12.78 billion, while commodities follow with $5.4 billion, and asset-backed credit with $3.19 billion.
According to Boston Consulting Group and Standard Chartered Bank, the market could hit $16 trillion by 2030. McKinsey predicts it to be $2 trillion by then.
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