Tokenized assets hit $43B while the suits keep rewriting the roadmap

The market for tokenized real-world assets has climbed above $43 billion in value, up roughly 37% over the past 180 days, according to Token Terminal. The figure exceeds the less than $33 billion valuation reported by industry tracker RWA.xyz, a gap that likely reflects methodological differences, with Token Terminal incorporating a broader range of tokenized financial assets.

Tokenized funds dominate the sector, accounting for nearly 80% of total market capitalization. Commodities rank second at 16.6%, followed by tokenized stocks at 3.8%. Ethereum remains the leading blockchain for tokenized assets, hosting 57.8% of total value. BNB Chain accounts for 8.5%, followed by zkSync Era at 7.5%, XRP Ledger at 5.8% and Stellar at 5.4%. Sky is the largest issuer with $6.1 billion in tokenized assets, with Securitize and Ondo Finance each holding $3.6 billion, according to Token Terminal.

Mainstream financial institutions have continued to advance tokenization efforts. Earlier this week, Standard Chartered initiated coverage of Uniswap, projecting that UNI could appreciate 40-fold by 2030 as tokenized assets migrate onchain, with the bank forecasting the broader decentralized finance sector to grow to $2.7 trillion over the same period. Citigroup has also projected that the tokenization market will reach $5.5 trillion by 2030 in its base case and up to $8.2 trillion in a bull scenario, identifying the Depository Trust & Clearing Corporation, the New York Stock Exchange and Nasdaq integrating tokenization into core issuance processes as key catalysts. Stablecoins, often excluded from tokenization metrics, are expected to be a major driver of sector growth.

Tokenized equities are gaining traction through platforms such as Ondo Markets and xStocks, with Binance Research noting that RWA growth is becoming more diversified. "2026 marks RWA tokenization's maturation from a Treasury-dominated narrative into a diversified yield ecosystem," Binance Research said in a report earlier this month. JPMorgan and Citi-backed clearing house operators have also outlined plans to tokenize core market infrastructure as regulatory clarity improves and pilot programs transition into production use.