The market value of tokenized real-world assets (RWAs) on public blockchains has risen to approximately $23.6 billion in 2026, representing a 66% increase since the beginning of the year. According to DeFiLlama data, the sector started 2026 at roughly $14.1 billion and has steadily expanded as investors adopt blockchain-based versions of traditional financial assets.
Tokenized funds represent the largest segment, accounting for about $10.5 billion, or 44.5% of the total market. These products include instruments backed by US Treasury bills, bonds, and money market funds.
Tokenized commodities, particularly gold, follow with roughly $6.5 billion in value, while tokenized equities have reached nearly $4 billion. Smaller segments such as private credit and yield-focused products make up the remainder of the ecosystem.
Institutional and Market Access Drivers
Industry participants suggest that the next phase of growth is being driven less by experimentation and more by improvements in distribution and market accessibility. Tokenized assets allow investors to trade and settle positions continuously, removing limitations associated with traditional market hours and settlement cycles.
Tokenized stocks recently surpassed $1 billion in onchain value, supported by platforms such as Ondo and xStocks. Meanwhile, the tokenized US Treasury market exceeded $10 billion in February and reached more than $11 billion by March.
Market participants say investor frustration with conventional trading infrastructure is also contributing to adoption. Legacy financial systems typically operate within limited trading windows and rely on multiple intermediaries for settlement and custody.
By contrast, blockchain-based markets enable near-instant settlement and round-the-clock access, features that continue to attract both institutional experimentation and broader investor interest.