The market for tokenized real-world assets (RWA) has reached a value of $46.2 billion. US Treasury bills represent the largest segment of this sector, accounting for approximately $15 billion. Currently, five specific assets control roughly 70% of the total market, highlighting a high level of concentration among institutional-grade products.
Ethereum continues to lead as the primary blockchain for tokenized assets, holding approximately $17.3 billion in value. Stellar has secured the third position in the market rankings, with its RWA portfolio reaching $3.3 billion. This figure increased by $149.4 million over a 30-day period, supported by integrations such as MoneyGram and Zebec.
BNB Chain and Solana are also among the top networks for RWA activity. Market estimates vary between $38 billion and $46.2 billion, depending on the classification criteria used by different trackers. Key issuers driving capital into onchain instruments include BlackRock with its BUIDL fund, Franklin Templeton with BENJI tokens, and Ondo Finance with its USDY product.
Regulatory developments throughout 2026 have provided greater clarity for the sector, reducing compliance uncertainty for issuers. The growth of the RWA market is increasingly tied to institutional interest in diversified money market products, including those denominated in currencies other than the US dollar.
