Tokenized Real-World Assets Top $30 Billion, Led by U.S. Treasurys

Overview

• The market reached $30.2 billion by late April 2026, up more than 420% since January 2025, according to RWA.xyz.
• U.S. Treasury tokens grew from $3.9 billion to more than $15 billion, becoming the largest slice of the sector and the main driver of growth.
• Gold-backed tokens recorded $90.7 billion in spot trading volume in the first quarter of 2026, led by Tether and Paxos products as higher gold prices and wider exchange access drew traders.
• Europe’s MiCA rulebook gave issuers and exchanges clearer guardrails, which research firms say helped traditional finance players step into tokenized markets.
• BlackRock’s BUIDL and Fidelity’s Digital Interest Token put short-term U.S. government debt on-chain for yield-seeking investors, while tokenized stocks rose to about $487 million and ETFs to nearly $300 million by Q1 2026, though activity remains tiny next to traditional markets.