Tokenized assets reach $43B as institutions expand blockchain use
Onchain tokenized financial assets hit $43 billion, up 37% over 180 days, as banks and firms increase issuance, custody and settlement on blockchain.
Token Terminal data show the market value of tokenized onchain financial assets reached $43 billion, a roughly 37% increase over the past 180 days. The figure reflects a broad set of tokenized financial instruments and is higher than estimates that use narrower inclusion rules.
Tokenized funds account for about 80% of the reported market capitalization, commodities represent 16.6% and tokenized equities make up 3.8%. Other trackers place the combined real-world asset market below $33 billion when they exclude certain product types.
Ethereum hosts 57.8% of the total onchain value for tokenized assets. Other ledgers holding notable shares include BNB Chain at 8.5%, zkSync Era at 7.5%, the XRP Ledger at 5.8% and Stellar at 5.4%.
Issuers with the largest tokenized volumes include Sky with about $6.1 billion, followed by Securitize and Ondo Finance at roughly $3.6 billion each.
Banks and large financial firms are increasing work on tokenization for issuance, custody and settlement. Standard Chartered initiated coverage of Uniswap and projected the decentralized finance sector could reach $2.7 trillion by 2030. Citigroup projected a base-case tokenization market of $5.5 trillion by 2030 and a bull-case as high as $8.2 trillion, identifying the Depository Trust & Clearing Corporation, the New York Stock Exchange and Nasdaq integrating tokenization into core issuance processes as potential catalysts and citing stablecoins as an important enabler of onchain finance.
Research groups and market participants report a shift in the mix of tokenized assets away from U.S. Treasury-backed instruments toward tokenized funds, private credit and equities. Platforms such as Ondo Markets and xStocks are facilitating tokenized equity offerings.
Binance Research wrote: “2026 marks RWA tokenization’s maturation from a Treasury-dominated narrative into a diversified yield ecosystem.”
Methodological differences across data providers produce varying market estimates. Tokenization activity remains concentrated among a small number of issuers and blockchains while a wider set of asset types and platforms gain activity.
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