The tokenized real-world assets market has crossed $38B, driven by BlackRock, Franklin Templeton, and institutional demand for on-chain Treasuries and private credit.

The distributed market structure suggests the RWA landscape has not yet consolidated around a clear winner.

The tokenized real-world assets market hit $33.7B in May 2024, up from under $1B in early 2023, as institutional giants like BlackRock join the space.

The tokenized real-world assets market has crossed $38B, driven by BlackRock, Franklin Templeton, and institutional demand for on-chain Treasuries and private credit.

Data and charts on tokenization and real-world assets (RWAs), tracking market growth and where onchain finance and DeFi composability lags.

The onchain market cap of tokenized funds reaches $32.4B, with Ethereum commanding 59.6% market share as BlackRock, JPMorgan, and Circle drive institutional adoption.