The market for tokenized real-world assets (RWAs) on the Ethereum blockchain has surged past $17 billion in total on-chain value, according to the latest data. This represents a staggering 315% increase from approximately $4 billion just one year ago, underscoring a dramatic acceleration in institutional adoption.
Ethereum solidifies its position as the dominant platform for this sector, holding an estimated 58% of the global non-stablecoin RWA market. The growth is largely fueled by tokenized money-market funds and U.S. Treasury-backed instruments. A central driver has been BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), a $1.8 billion fund backed by U.S. Treasuries and cash equivalents that launched on Ethereum.
The utility of these tokenized assets is expanding beyond simple issuance. In a significant development, Binance confirmed it will accept BUIDL as off-exchange collateral for eligible institutional clients. This allows traders to leverage their tokenized Treasury exposure within crypto trading operations while assets remain with approved custodians, integrating traditional finance products directly into the crypto ecosystem.
JPMorgan Chase has also deepened its involvement, introducing a $100 million tokenized money-market fund on Ethereum for qualified investors. Furthermore, JPMorgan collaborated with Galaxy Digital to structure a commercial paper issuance executed on the Solana blockchain, demonstrating the application of blockchain for short-term corporate debt.
The sector's momentum is reflected in key metrics: transfer volumes doubled to $26 billion in the last 30 days, and RWAs now rank as the fourth-largest category in DeFi by Total Value Locked (TVL) at $21.5 billion. Analysts forecast the tokenized RWA market could reach trillions of dollars by 2030, signaling a fundamental shift where asset managers, banks, and trading venues increasingly rely on public blockchain infrastructure to issue and manage traditional financial assets.
