RWA's $1.63B Ethereum exit triggers a five-chain land grab 🚜

The tokenized real-world asset race is no longer Ethereum's to control. While Ethereum still anchors the largest tokenized asset base at roughly $14.65 billion, its dominance is slipping: over the last 30 days, the network shed nearly $1.63 billion in tokenized RWAs, even as rival chains absorbed the outflows.

Stellar [XLM] led the catch-up, adding about $810 million in the same period — a 63% jump. Base, Avalanche [AVAX] and Aptos [APT] also posted strong gains, rising 46%, 45% and 38% respectively. Solana [SOL] is firmly part of the conversation as well, with Galaxy Research reporting that its real-world asset value grew 58% quarter-on-quarter in Q1 2026 and crossed $2.5 billion, with tokenized funds, public equities and private credit among the products now on-chain. RWAs also account for 17% of Solana's total TVL.

The flows matter because they tend to stick. Once institutions build compliance and settlement infrastructure on a given chain, they are unlikely to migrate elsewhere, meaning current inflows point to where long-term on-chain activity may settle. AMBCrypto previously reported that tokenized assets had grown by 15% in just 30 days, and that private credit alone has crossed $14 billion on-chain. Together, the figures underscore a broader reallocation underway as Ethereum faces mounting competition across the RWA landscape.