Tokenized RWA Market Tops $43B, According to Token Terminal

The market for tokenized real-world assets has climbed past $43 billion in market value, a gain of roughly 37% over the past 180 days as traditional financial products migrate onto blockchain rails. Token Terminal’s figures exceed other trackers such as RWA.xyz — which puts the market below $33 billion — a discrepancy that likely reflects methodological differences.

Tokenized funds make up nearly 80% of the sector’s market capitalization, with commodities at 16.6% and tokenized stocks at 3.8%. Ethereum hosts 57.8% of tokenized value, followed by BNB Chain (8.5%), zkSync Era (7.5%), XRP Ledger (5.8%) and Stellar (5.4%). Sky is the largest issuer with $6.1 billion in tokenized assets, while Securitize and Ondo Finance each account for $3.6 billion.

Interest from major institutions has grown as tokenization moves beyond pilots. Standard Chartered initiated coverage of Uniswap and suggested UNI could appreciate 40-fold by 2030 while projecting decentralized finance could reach $2.7 trillion.

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