Tokenized RWAs Hit $23.6B as 24/7 Trading Draws Investors


Tokenization News


The on-chain market cap of tokenized real-world assets reached approximately $23.6 billion as of Wednesday, up roughly 66% from $14.1 billion at the start of the year, according to DeFiLlama data. The market climbed steadily from January through early March, driven by interest across multiple asset classes.


Tokenized funds, including products backed by U.S. Treasury bills, bonds, and money market funds, make up the largest share of the sector at about 44.5%, equivalent to $10.5 billion. Tokenized gold and commodities account for roughly $6.5 billion, while tokenized equities represent nearly $4 billion. Private credit and yield-generating products comprise smaller portions of the broader ecosystem.


Tokenized stocks crossed $1 billion in on-chain value as of Tuesday, according to RWA(dot)xyz data, with Ondo and xStocks accounting for the majority of that activity. The tokenized U.S. Treasury market separately surpassed $10 billion in market cap in February before climbing to $11.13 billion in March.

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March 11, 2026 at 1:07 PM
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