The market for tokenized real-world assets (RWA), excluding stablecoins, reached approximately $46.2 billion to $46.3 billion by late September 2026. These assets are distributed across 35 to 36 blockchain networks, with Ethereum holding a dominant 48% share, equivalent to roughly $22.2 billion.
BNB Chain ranks second with $5.5 billion, followed by Stellar and zkSync Era with $3.3 billion each, and Solana with $3.0 billion. US Treasury bills represent the largest asset category at $13.9 billion, while active yield strategies and credit funds account for $10.7 billion and $6.5 billion respectively.
Tokenized stocks showed the highest growth over the past 30 days, increasing by approximately $592 million. Data providers offer varying estimates; for instance, rwa.xyz reported a total market value of $38.61 billion across 39 networks as of October 1, 2026, citing different methodologies for asset classification.
Currently, only 7% to 12% of these tokenized assets are utilized within decentralized finance protocols. While McKinsey projects the market could reach $2 trillion by 2030, the sector faces challenges including evolving regulatory frameworks and significant discrepancies in data reporting between tracking services.
