Tokenized RWAs Hit $38.17B; Treasuries Lead at $16.21B

Tokenized real-world assets reached $38.17 billion in total value locked on Aug. 9, 2026, according to rwa.xyz. The sector is $1.83 billion short of $40 billion after crossing the $38 billion mark earlier in the week.

The number of tokenized asset holders rose 56.18% over the past month to 1,701,650 addresses, reflecting increased participation across multiple asset categories.

U.S. Treasury debt is the largest segment, with $16.21 billion in tokenized value spread across 87 distinct Treasury products and held by 63,010 unique addresses. Circle’s USYC leads Treasury-backed tokens with $3.00 billion in value. BlackRock’s USD Institutional Digital Liquidity fund (BUIDL) holds $2.68 billion, Ondo’s U.S. Dollar Yield fund holds $2.14 billion, and Franklin Templeton’s iBENJI controls $1.72 billion. Janus Henderson’s Treasury Fund records $882.30 million and the Invesco Short Duration U.S. Government Securities fund registers $813.86 million.

Tokenized non-U.S. government debt declined 7.78% over 30 days to $1.28 billion in distributed value, covering 24 assets and 10,111 holders. Spiko’s EU T‑Bill fund is the largest position in that group.

Tokenized credit reported distributed value of $7.30 billion, up 1.63% month over month. The represented value of tokenized credit, defined as the total value of underlying assets represented by tokens, rose 3.65% to $36.77 billion. The credit segment spans 2,543 assets and 191,745 holders, with Syrup USDC the largest single tokenized-credit offering by value.

Tokenized stocks and commodities showed mixed activity. Distributed value for tokenized stocks increased 5.10% to $2.37 billion, while monthly transfer volume for stocks rose 138.45% to $20.72 billion. Monthly active addresses for stocks decreased 16.36% to 355,222 even as the count of holders grew 117.93% to 1.09 million. Commodities reached $4.88 billion in distributed value, up 4.07%, with monthly transfer volume of $4.95 billion, a 6.76% increase. Monthly active addresses for commodities rose 124.42% to 84,505. Tether Gold is the largest commodity-backed token by value.

Tokenized real-world assets convert off-chain instruments such as fiat deposits, government and corporate debt, real estate, precious metals and private credit into digital tokens that can be recorded and traded on blockchain networks. Proponents describe tokenization as a way to enable fractional ownership, faster settlement and broader market access by linking decentralized finance with traditional financial assets.

The figures in this report are drawn from rwa.xyz and do not include issuer statements.