The market for tokenised real-world assets has experienced rapid growth in 2026, with institutional giants like BlackRock and Franklin Templeton driving the expansion into traditional assets on blockchain infrastructure, signalling mainstream finance’s increasing reliance on tokenisation.
The market for tokenised real-world assets has accelerated sharply in 2026, with different industry trackers placing its value at between $19.3 billion and $34.5 billion depending on methodology and date. CoinGecko’s RWA Report 2026 said the sector had climbed 256.7% from $5.42 billion at the start of 2025 to $19.32 billion by 31 March 2026, while Bitcoin.com News reported a later reading of $34.5 billion in May. Fensory, meanwhile, put the market at $24.96 billion in February, underscoring how quickly the category has expanded and how differently providers measure on-chain activity.
Even allowing for those variations, the direction of travel is unmistakable: tokenisation has moved from a niche experiment to a significant institutional theme. CoinGecko said tokenised RWAs had grown to 6.4% of the size of the stablecoin market, up from 2.7% at the start of 2025, as capital flowed into products that package traditional assets into blockchain-based wrappers. The report also found that tokenised Treasuries remained the largest asset class, accounting for more than half of the sector’s growth, even as their share slipped modestly to 67.2% from 73.7%.
That Treasury dominance has been reinforced by the rise of products from established financial names. Bitcoin.com News said tokenised U.S. Treasuries had reached $15.2 billion, with BlackRock and Circle among the biggest drivers of inflows. Ondo Finance’s Treasury products were reported to be near $2.7 billion in total value locked, while Circle’s USYC, a yield-bearing product backed by short-duration U.S. government securities, had passed $2.9 billion. Fensory separately reported tokenised Treasuries at $9.2 billion in February, led by BlackRock’s BUIDL, Ondo’s OUSG and Franklin Templeton’s BENJI.
The appeal is straightforward: tokenised government paper offers familiar credit quality, relatively predictable yields and, increasingly, the ability to move through crypto rails at all hours. That has made it a natural entry point for asset managers and protocol users alike. But the market is no longer limited to sovereign debt. Bitcoin.com News reported that private credit has overtaken Treasuries as the largest non-stablecoin RWA segment, suggesting growing appetite for higher-yielding, harder-to-access assets.
Ondo has also sought to extend the utility of the sector with Ondo Nexus, a new initiative aimed at giving third-party issuers of tokenised Treasuries instant liquidity. The company says the system builds on OUSG’s mint-and-redeem model and broadens its backing to include products from Franklin Templeton, WisdomTree, Wellington Management and Fundbridge Capital, while maintaining links to liquidity channels associated with BlackRock, PayPal and others.
Longer-term forecasts remain strikingly ambitious. Bitcoin.com News cited Standard Chartered’s projection that the tokenised asset market could reach $30 trillion by 2034, while Ripple and Boston Consulting Group have estimated a figure of about $18.9 trillion by 2033. Redstone’s Q1 2026 research put annual growth at 85%, a pace that has since been eclipsed by newer readings.
Regulation may prove as important as technology in sustaining that momentum. The proposed GENIUS Act in the US and the European Union’s MiCA regime are widely seen as giving issuers clearer legal cover to launch compliant tokenised products. For now, the numbers suggest a market that is still early, but growing fast enough to force mainstream finance to take it seriously.
- https://news.bitcoin.com/rwa-market-cap-37-5-billion-120-percent-growth-2026/ – Please view link – unable to able to access data
- https://www.coingecko.com/research/publications/rwa-report-2026 – CoinGecko’s RWA Report 2026 highlights a significant surge in the tokenized real-world assets (RWA) market, with the total market capitalization increasing by 256.7% from $5.42 billion at the start of 2025 to $19.32 billion by March 31, 2026. This growth outpaces stablecoins, with tokenized RWAs now representing 6.4% of the stablecoin market size, up from 2.7% at the beginning of 2025. The report also notes that tokenized Treasuries remain the largest asset class, contributing more than half of the sector’s market cap growth, despite a slight decline in their market share from 73.7% to 67.2%.
- https://www.crowdfundinsider.com/2026/05/276715-tokenized-real-world-assets-rwas-surge-to-19-3b-by-q1-2026-as-institutional-momentum-builds-research/ – Crowdfund Insider reports on CoinGecko’s RWA Report 2026, indicating that the tokenization of real-world assets has entered a new phase of explosive expansion. Between the start of 2025 and the end of March 2026, the total market capitalization of tokenized RWAs more than tripled, climbing 256.7% from $5.42 billion to $19.3 billion. Tokenized U.S. Treasuries remain the dominant category, holding a 67.2% share of the overall RWA market, even after a modest decline from 73.7% at the beginning of the year.
- https://fensory.com/intelligence/rwa/tokenized-treasuries-9-billion-february-2026 – Fensory reports that tokenized U.S. Treasuries have surged to $9.2 billion in total value locked, representing a 136% increase year-to-date. This milestone cements treasury-backed tokens as the dominant RWA category. The growth is primarily driven by regulatory clarity from the GENIUS Act, integration with DeFi protocols as collateral, and yield advantages over traditional money markets. The report also highlights the market leaders in this segment, including BlackRock BUIDL, Ondo OUSG, and Franklin Templeton BENJI.
- https://www.fensory.com/intelligence/rwa/total-rwa-market-25-billion-february-2026 – Fensory reports that the global tokenized RWA market has reached $24.96 billion in distributed asset value, growing 12.27% over the past 30 days as institutional capital continues to flow into on-chain treasury and commodity products. The milestone reflects sustained institutional interest in blockchain-based asset tokenization. The report provides key metrics, including total RWA TVL, 30-day growth, asset holders, and total assets, highlighting the rapid expansion of the market.
- https://globaltokenize.com/rwa-tokenization-market-size-2026/ – GlobalTokenize discusses the rapid growth of the tokenized RWA market, which hit $27.7 billion on-chain in April 2026, marking a 300% year-on-year increase. The article reconciles conflicting forecasts, ranging from $2 trillion to $30 trillion by 2030, and provides an honest assessment of the market’s current state. It also discusses the data and forecasts related to the asset tokenization market size in 2026, offering insights into the numbers and their implications.
- https://blog.ondo.finance/introducing-ondo-nexus/ – Ondo Finance introduces Ondo Nexus, a new technology initiative designed to unlock instant liquidity for third-party issuers of tokenized Treasuries. Leveraging OUSG’s instant minting and redemption capabilities, Ondo Nexus enhances the liquidity and utility of tokenized Treasuries while building foundational infrastructure for the broader RWA category. The initiative diversifies the backing of OUSG to include tokenized Treasuries from Franklin Templeton, WisdomTree, Wellington Management, and Fundbridge Capital, while leveraging the 24/7 liquidity available through existing relationships with BlackRock, PayPal, and others.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The article references CoinGecko’s RWA Report 2026, published on May 13, 2026, and Bitcoin.com News reporting a market cap of $34.5 billion in May 2026. ([coingecko.com](https://www.coingecko.com/research/publications/rwa-report-2026?utm_source=openai)) The Bitcoin.com News article is dated May 14, 2026, and reports a market cap of $15.2 billion for tokenized U.S. Treasuries, with BlackRock and Circle among the biggest drivers of inflows. ([globenewswire.com](https://www.globenewswire.com/news-release/2026/05/14/3294754/0/en/bitcoin-com-partners-with-dinari-to-bring-tokenized-u-s-equities-to-a-global-audience.html?utm_source=openai)) The discrepancy between the $37.5 billion figure in the article and the $34.5 billion reported by Bitcoin.com News raises questions about the accuracy of the reported market cap. ([crowdfundinsider.com](https://www.crowdfundinsider.com/2026/05/276715-tokenized-real-world-assets-rwas-surge-to-19-3b-by-q1-2026-as-institutional-momentum-builds-research/?utm_source=openai))
Quotes check
Score:
7
Notes:
The article includes direct quotes from CoinGecko’s RWA Report 2026 and Bitcoin.com News. ([coingecko.com](https://www.coingecko.com/research/publications/rwa-report-2026?utm_source=openai)) However, the article does not provide direct links to these sources, making it difficult to verify the accuracy and context of the quotes. The lack of accessible sources for verification is a concern.
Source reliability
Score:
6
Notes:
The article cites CoinGecko’s RWA Report 2026 and Bitcoin.com News. CoinGecko is a reputable source for cryptocurrency data, but the article does not provide direct links to the original reports, making it challenging to assess the reliability of the information presented. The absence of accessible sources for verification is a significant concern.
Plausibility check
Score:
7
Notes:
The article discusses the rapid growth of the tokenized real-world assets (RWA) market, citing figures from CoinGecko’s RWA Report 2026 and Bitcoin.com News. ([coingecko.com](https://www.coingecko.com/research/publications/rwa-report-2026?utm_source=openai)) While the growth figures are plausible, the discrepancies in reported market cap figures and the lack of accessible sources for verification raise questions about the accuracy of the claims.
Overall assessment
Verdict (FAIL, OPEN, PASS): FAIL
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The article presents information on the rapid growth of the tokenized real-world assets (RWA) market, citing figures from CoinGecko’s RWA Report 2026 and Bitcoin.com News. However, discrepancies in reported market cap figures and the lack of direct links to the original sources raise significant concerns about the accuracy and reliability of the information presented. The absence of accessible sources for verification further compounds these issues, leading to a FAIL verdict with MEDIUM confidence.