Tokenization Enters New Growth Phase as Market Tops $43B

The market for tokenized real-world assets (RWAs) continues to expand at a rapid pace, showing growing institutional confidence in blockchain-based financial infrastructure despite broader volatility across cryptocurrency markets.

According to data from Token Terminal, the value of tokenized financial assets has climbed above $43 billion, representing growth of approximately 37% over the past six months. The increase highlights a broader shift as traditional financial products increasingly move onto blockchain networks.

The figures place the tokenized asset market well above estimates from some industry trackers, which currently value the sector at less than $33 billion. The difference is largely attributed to varying methodologies, with Token Terminal including a wider range of tokenized financial products in its calculations.

Tokenized Funds Continue to Lead

Tokenized investment funds remain the dominant segment of the market, accounting for nearly 80% of total tokenized asset value.

Commodities represent the second-largest category with a market share of approximately 16.6%, while tokenized equities account for around 3.8%, reflecting growing interest in blockchain-based access to traditional financial instruments.

The data suggests that institutional adoption is no longer limited to a handful of asset classes, as tokenization gradually expands across multiple areas of finance.

Ethereum Maintains Dominance

Ethereum remains the primary blockchain for tokenized assets, hosting nearly 58% of the market's total value, according to Cointelegraph.

However, competition among blockchain networks continues to intensify. BNB Chain accounts for roughly 8.5% of tokenized assets, followed by zkSync Era at 7.5%, XRP Ledger at 5.8%, and Stellar at 5.4%.

The distribution reflects a broader trend toward multi-chain adoption as issuers seek scalability, lower transaction costs, and access to different user ecosystems.

Among tokenization providers, Sky currently leads the market with approximately $6.1 billion in tokenized assets. Securitize and Ondo Finance follow closely behind, each managing roughly $3.6 billion in tokenized value.

Institutional Interest Continues to Grow

The rapid growth of tokenized assets comes as major financial institutions increasingly embrace blockchain technology.

Earlier this week, Standard Chartered initiated coverage of decentralized exchange Uniswap, arguing that the protocol could benefit significantly from the continued migration of financial assets onto blockchain networks. The bank projects that the decentralized finance sector could grow to approximately $2.7 trillion by 2030, driven in large part by tokenized financial products.

Citigroup has also expressed optimism about the sector's long-term potential. The bank estimates that the tokenized asset market could reach $5.5 trillion by 2030 under its base-case scenario and as much as $8.2 trillion under more bullish assumptions.

According to Citi, improving regulatory clarity and increasing participation from major financial institutions are helping move tokenization beyond the experimental stage and into mainstream financial markets.

The bank identified initiatives involving organizations such as the Depository Trust & Clearing Corporation (DTCC), the New York Stock Exchange, and Nasdaq as important catalysts for future growth.

Beyond Treasury and Private Credit

While tokenized funds and private credit products continue to dominate the market, the industry is becoming increasingly diversified.

Tokenized equities have gained momentum through platforms such as Ondo Markets and xStocks, expanding investor access to traditional assets through blockchain-based infrastructure.

Industry researchers believe this trend marks a significant evolution in the tokenization narrative.

In a recent report, Binance Research argued that 2026 represents a turning point for the sector as tokenization moves beyond its earlier focus on government securities and develops into a broader ecosystem of yield-generating financial products.

As institutional adoption accelerates and blockchain infrastructure matures, tokenized assets are increasingly emerging as one of the fastest-growing segments of the digital asset economy.

To sum up, rising institutional adoption and advances in blockchain infrastructure are transforming tokenized assets into one of the fastest-growing segments of the digital asset economy.