Ethereum still commands the largest share of the tokenized real-world-asset market, though rising competition is starting to erode its lead in a market that has already grown to $38 billion. The network also leads a related niche, accounting for nearly half of a tokenized credit fund sector that has already topped $7 billion.
Ethereum held approximately $16.6 billion in distributed tokenized real-world-asset value in early June 2026 — 52.85% of the entire on-chain RWA market, according to data from rwa.xyz. By early August, total distributed RWA value across all chains had surged to $38 billion. Ethereum's slice grew to roughly $17.3 billion, even as its share slipped to around 45-46% as competing chains absorbed part of the expansion.
Institutions keep building on Ethereum
BlackRock's BUIDL fund, the world's largest asset manager's tokenized money market product, deployed on Ethereum as its primary chain. Franklin Templeton has similarly deployed tokenized fund products on the network. Separately, Ethereum-based RWAs grew 315% year over year.
The nearest competitors are not particularly close: BNB Chain reported $3.6 billion in RWA value in the June snapshot. Solana came in at $2.5 billion.
Credit funds tell the same story
Ethereum also leads a related niche: tokenized credit, built from structured products such as collateralized loan obligations and institutional credit facilities rather than ordinary DeFi lending. The network accounts for 42.9% of the tokenized credit fund market, according to RWA.xyz.
That market has grown to a distributed value of $7.29 billion, while the underlying assets represented are even larger, at $36.67 billion. The broader tokenized RWA landscape, excluding stablecoins, has reached roughly the same $38 billion figure cited above.
Securitize has launched the STAC AAA CLO fund with custody from BNY Mellon on Ethereum. It also partnered with Apollo Global Management on ACRED, a tokenized credit fund that reported an 8.77% annualized yield from March 2025 through February 2026.
Centrifuge, Maple Finance and Hastra round out the field. Solana and Provenance have also carved out portions of the tokenized credit market, offering faster transaction speeds and lower costs.
Why the gap matters
Settlement speed helps explain the yield appeal: a traditional CLO trade can take days to clear through intermediaries, while the same transfer on Ethereum can finalize in minutes. Every tokenized treasury, money market fund and fractional real-estate transaction processed on the network still generates gas fees paid in ETH, so a $17 billion asset base does not move, settle or rebalance for free.
Sources: Crypto Briefing, Crypto Briefing
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