Tokenized Real-World Assets Hit $25 Billion, BlackRock’s BUIDL Dominates

The market for tokenized real-world assets has reached roughly $25 billion in total market capitalization.

Tokenized US Treasuries account for approximately $16 billion, representing over 55% of the entire market. BlackRock’s BUIDL fund is the single largest product, holding roughly $2.98 billion in assets.

The broader decentralized finance landscape tied to these assets has seen total value locked reach around $3 billion. Ethereum remains the dominant chain with its RWA market surpassing $17 billion, a 315% increase year-over-year. BNB Chain’s RWA total value locked reached $3 billion, with $1 billion added in the first quarter of 2026 alone.

Projections estimate the total value locked in tokenized RWAs could exceed $500 billion by the end of 2026. However, the concentration of assets, with nearly $3 billion in a single fund, makes operational risk profiles systemically relevant.