Tokenized RWA market grows 420%, led by US Treasurys

The market for tokenized real-world assets (RWAs) has grown by over 420% since 2025 to reach approximately $30.2 billion. Tokenized U.S. Treasurys have spearheaded this growth, surging from $3.9 billion to over $15 billion. An analyst explained that tokenized Treasurys allow investors to receive yields from U.S. government bonds directly on the blockchain, bypassing traditional intermediaries like banks and securities firms. "The key for institutions is the ability to manage stable, dollar-denominated returns on-chain in a regulatory-compliant manner," the analyst said. This signifies a shift for blockchain from being merely an investment tool to serving as an infrastructure for managing institutional capital, the analyst added, noting that the market is expanding even more rapidly with the recent tokenization of commodities like gold.