In a landmark move for real-world asset tokenization, the XRP Ledger has become host to over $2 billion worth of tokenized electricity, marking a new category of commodity on the blockchain. Data from RWA.xyz reveals that the JMWH token, issued by Buenos Aires-based infrastructure firm Justoken and backed by Latin American energy producers, now represents a total asset value of approximately $2.229 billion, a 158.9% surge in the past 30 days.
Each JMWH token signifies one real megawatt-hour of energy, with corresponding contractual commitments from energy companies. Once the electricity is consumed, the tokens are burned, ensuring full transparency from production to consumption. This integration goes beyond typical tokenized Treasuries or money market funds, turning physical energy flows into on-chain settleable assets. The development is expected to generate constant transactional demand on the XRP Ledger, as every new account requires XRP reserves, potentially locking up more of the altcoin.
Overall, the XRP Ledger’s total represented asset value has climbed to over $4 billion, up more than 50% in a month, with a notable increase in the number of RWA holders to 69. While the network saw $1.4 billion in net flows over 30 days—the highest among all tracked chains—transfer volume dipped to $146 million, down over 27%.
Despite this rapid growth in new asset classes, Ethereum continues to dominate the broader RWA sector. Token Terminal data shows Ethereum commands 67% of the $38.3 billion tokenized asset market, including 72.5% of tokenized ETFs, 40% of tokenized stocks, and 63.6% of tokenized Funds. The sUSDS Fund on Ethereum alone recorded $36.4 billion in transfer volume over the past month. Institutional adoption further reinforces Ethereum’s lead: BlackRock recently selected the network for the exclusive launch of its tokenized BlackRock Select Treasury-Based Liquidity Fund (BSTBL), while its existing BUIDL fund already has $1.2 billion on Ethereum out of $2.6 billion in total assets.
