The total market value of RWA has surpassed 65 billion USD, with Ethereum holding the top position at 33% share

According to The Block, as traditional asset management companies accelerate the on-chain tokenization of assets, the total market value of real-world assets (RWA) has surpassed $65 billion, an increase of about 44% since the beginning of the year. Ethereum holds about 33% of the market share, maintaining its position as the default platform for institutional tokenization. Provenance blockchain accounts for approximately 27% of the market share, while BNB Chain, XRP Ledger, and Solana each account for about 6%.

The distributed market structure indicates that a clear winner has not yet emerged in the RWA space, and significant share fluctuations remain possible as different chains differentiate themselves in terms of compliance tools, settlement finality, and cost structures. Due to the high stickiness of RWA funds, blockchains that win early institutional partnerships will gain a sustained advantage.