RWAs exceed $25 billion after nearly quadrupling in a year

Tokenized real-world assets, excluding stablecoins, have surpassed $25 billion in onchain value, nearly quadrupling from roughly $6.4 billion a year earlier, RWA.xyz data shows. The shift reflects a move from early experimentation to institutional-scale deployment: asset managers including BlackRock, Fidelity and WisdomTree launched tokenized fund products, and the number of tokenized U.S.

Treasury offerings rose from 35 to more than 50, Nexus Data Labs found. Six asset categories now exceed $1 billion onchain: U.S. Treasuries, commodities, private credit, institutional alternative funds, corporate bonds and non-U.S. government debt. Much of the activity, however, reflects issuance rather than active trading.

Onchain transfer data often clusters around $10 million per transfer, a pattern consistent with institutional allocation batching rather than continuous market activity, and a Brickken survey showed 53.8% of issuers prioritize capital formation and fundraising efficiency while only 15.4% cited liquidity.

United States

real-world assets, tokenized assets, rwas, onchain value, tokenized funds, u.s. treasuries, commodities, private credit, asset managers, blackrock