$3T RWA Tokens: Are Real-World Assets Crypto's Next Frontier?
When giants like BlackRock and JPMorgan Chase began experimenting with tokenized U.S. Treasuries, skeptics wondered if it was just another passing crypto trend.
Today, history is tilting the other way, as the tokenization of real-world assets (RWAs) moves rapidly from the margins into the financial mainstream.
The market sentiment is undeniably bullish, with experts and institutions alike forecasting a $16 trillion opportunity by 2030. It is, however, crucial to look beyond the hype, even if the sector has already surged 380% over the past three years alone.
Reports Highlights
Real World Assets RWA Token List
In 2025 alone, the RWA market (excluding stablecoins) has surged by 260%, reaching a total value of over $26 billion. However, this growth is highly concentrated with two major asset classes dominating the landscape, Private Credit and U.S. Treasuries. Together, these assets account for nearly 91% of the total tokenized RWA market value.
Institutional adoption levels for a technological shift have never been this clear, with major financial players like BlackRock, Franklin Templeton, and JPMorgan Chase being actively involved. BlackRock’s BUIDL fund, for example, already has a market capitalization of about $2.4 billion, and Franklin Templeton’s BENJI fund stands at over $748 million.
The following spreadsheet provides a detailed (snapshot) look at a range of real-world assets that have been tokenized. This is not an exhaustive list but a curated selection to showcase the breadth and depth of the RWA landscape.
| Name | Symbol | Protocol | Market Capitalization | Asset Class |
|---|---|---|---|---|
| Midas mBASIS | mBASIS | Midas | $931,121 | Actively Managed Strategies |
| Midas mF-ONE | mF-ONE | Midas | $47,249,733 | Actively Managed Strategies |
| Comtech Gold | CGO | Comtech Gold | $11,445,246 | Commodities |
| JCORN | JCORN | Justoken | $4,375,868 | Commodities |
| JCOT | JCOT | Justoken | $19,758,355 | Commodities |
| JSOY_OIL | JOSY_OIL | Justoken | $334,051,426 | Commodities |
| JSOY | JSOY | Justoken | $163,967,907 | Commodities |
| Paxos Gold | PAXG | Paxos | $949,969,696 | Commodities |
| Trovio Silver | tXAG | Aurus | N/A | Commodities |
| Trovio Gold | tXAU | Aurus | N/A | Commodities |
| Trovio Platinum | tXPT | Aurus | N/A | Commodities |
| Teucrium Wheat Fund - Dinari | WEAT.d | Dinari | $199 | Commodities |
| WisdomTree Gold Token | WTGOLD | WisdomTree | $1,554,784 | Commodities |
| Matrixdock Gold | XAUm | Matrixdock | $43,788,586 | Commodities |
| Tether Gold | XAUT | Tether Holdings | $1,266,412,130 | Commodities |
| Backed ERNX € Ultrashort Bond | bERNX | Backed Finance (xStocks) | $11,320,000 | Corporate Bonds |
| Backed HIGH € High Yield Corp Bond | bHIGH | Backed Finance (xStocks) | $192,347 | Corporate Bonds |
| Nest ETF Vault | nETF | Nest | $14,219 | Corporate Bonds |
| Nest Institutional Vault | nINSTO | Nest | $1,033,352 | Corporate Bonds |
| WisdomTree Short-Duration Income Digital Fund | WTSIX | WisdomTree | $0 | Corporate Bonds |
| OpenTrade Rates+ Vault | XRV | OpenTrade (Perimeter Protocol) | $3,993,283 | Corporate Bonds |
| MGL | MGL | Unknown | Equities | |
| 22X Fund | 22X | Securitize | $351,834 | Institutional Funds |
| Apollo Diversified Credit Securitize Fund | ACRED | Securitize | $110,340,068 | Institutional Funds |
| Libre SAF VCC - Access Private Credit Feeder A | APCA | Libre Capital | $1,500,000 | Institutional Funds |
| Blockchain Capital III Digital Liquid Venture Fund | BCAP | Securitize | $214,754,520 | Institutional Funds |
| Libre SAF VCC - BH Master Fund Access | BHMA | Libre Capital | $8,303,534 | Institutional Funds |
| Cosimo X | COSX | Securitize | $21,843,738 | Institutional Funds |
| Hamilton Lane Equity Opportunities Securitize Fund V | HLEOV | Securitize | $5,521,250 | Institutional Funds |
| Hamilton Lane Senior Credit Opportunities Securitize Fund | HLSCOPE | Securitize | $9,666,614 | Institutional Funds |
| Hamilton Lane Secondary VI Securitize Fund | HLSF6 | Securitize | $6,450,000 | Institutional Funds |
| Libre SAF VCC - Hamilton Lane SCOPE Private Credit Access | HLSPCA | Libre Capital | $7,015,871 | Institutional Funds |
| Mantle Index Four Fund | MI4 | Securitize | $218,822,250 | Institutional Funds |
| Nest Alpha Vault | nALPHA | Nest | $9,535,371 | Institutional Funds |
| Nest Basis Vault | nBASIS | Nest | $32,650,071 | Institutional Funds |
| Nest Elixir Vault | nELIXIR | Nest | $407,719 | Institutional Funds |
| Republic NOTE | NOTE | Republic | $43,200,000 | Institutional Funds |
| Onchain Yield Coin | ONyc | OnRe | $102,083,070 | Institutional Funds |
| ParaFi Venture II Securitize Fund | PARAVII | Securitize | $2,265,000 | Institutional Funds |
| Protos | PRTS | Securitize | $6,479,310 | Institutional Funds |
| Re Member Fund LP | RE | Securitize | $12,945,000 | Institutional Funds |
| Science Blockchain | SCI2 | Securitize | $11,882,818 | Institutional Funds |
| KKR Health Care Strategic Growth II Securitize Fund | SKHC | Securitize | $4,130,000 | Institutional Funds |
| SPiCE VC | SPICE | Securitize | $26,817,300 | Institutional Funds |
| Alphaledger / Simplify Target 12% Distribution Fund | T12 | Alphaledger | $1,302,930 | Institutional Funds |
| Superstate Crypto Carry Fund | USCC | Superstate | $193,019,682 | Institutional Funds |
| abrdn Liquidity Fund (Lux) - Euro Fund | AAELF | Archax | $0 | Non-US Govt. Debt |
| Backed GOVIES 0-6 Months Euro Investment Grade | bC3M | Backed Finance (xStocks) | $9,998,890 | Non-US Govt. Debt |
| Etherfuse CETES | CETES | Etherfuse | $4,600,211 | Non-US Govt. Debt |
| Etherfuse EUROB | EUROB | Etherfuse | $1,490 | Non-US Govt. Debt |
| Spiko EU T-Bills Money Market Fund | EUTBL | Spiko | $297,558,643 | Non-US Govt. Debt |
| Etherfuse GILTS | GILTS | Etherfuse | $1,465 | Non-US Govt. Debt |
| Etherfuse TESOURO | TESOURO | Etherfuse | $547,779 | Non-US Govt. Debt |
| OpenTrade Fixed Term E.U. Bonds Vault | XEVT | OpenTrade (Perimeter Protocol) | $8,104,069 | Non-US Govt. Debt |
| Poundtoken | 1GBP | Blackfridge SC Limited | $61,888 | Stablecoins |
| Anchored Coins EUR | AEUR | Anchored Coins | $55,579,617 | Stablecoins |
| Angle Euro | AGEUR | Angle | $20,229,620 | Stablecoins |
| Australian Digital Dollar | AUDD | AUDC Pty Ltd | $4,342,291 | Stablecoins |
| Forte AUD | AUDF | Forte Tech Solutions | $2,677,278 | Stablecoins |
| AUSD | AUSD | Agora Ledger | $138,336,149 | Stablecoins |
| Alloy USDT | aUSDT | Tether Holdings | $50,000,005 | Stablecoins |
| Avant USD | avUSD | Avant Protocol | $95,086,975 | Stablecoins |
| Bean | BEAN | Beanstalk Protocol Governed by Beanstalk DAO | $33,410,053 | Stablecoins |
| Transfero: BRZ | BRZ | Transfero | $2,581,954 | Stablecoins |
| Binance-Peg BUSD | BSC-BUSD | Binance | $310,411,372 | Stablecoins |
| Binance-Peg USD | BSC-USD | Binance | $4,284,993,601 | Stablecoins |
| Binance USD | BUSD | Paxos | $55,026,240 | Stablecoins |
| Tether CNHt | CNHT | Tether Holdings | $6,273,661 | Stablecoins |
| Elixir deUSD | deUSD | Elixir | $201,063,706 | Stablecoins |
| EURC | EURC | Circle | $271,497,039 | Stablecoins |
| EUR CoinVertible | EURCV | Societe Generale | $50,879,899 | Stablecoins |
| EUROe | EUROe | Membrane Finance | $264,110 | Stablecoins |
| EURØP | EURØP | Schuman Financial | $3,537,266 | Stablecoins |
| Quantoz EURQ | EURQ | Fidelity Investments | $17,670,792 | Stablecoins |
| Stasis Euro | EURS | Stasis | $146,525,400 | Stablecoins |
| Tether EURt | EURT | Tether Holdings | $58,598,059 | Stablecoins |
| First Digital USD | FDUSD | First Digital Labs | $1,226,637,369 | Stablecoins |
| FRAX | FRAX | Frax Finance | $302,351,039 | Stablecoins |
| Fathom Dollar | FXD | Fathom | $2,219,396 | Stablecoins |
| GHO | GHO | Aave | $338,659,620 | Stablecoins |
| Gemini Dollar | GUSD | Gemini | $15,791,230 | Stablecoins |
| GMO JPY | GYEN | GMO Trust | $7,385,763 | Stablecoins |
| RupiahToken | IDRT | PT Rupiah Token Indonesia | $3,626,174 | Stablecoins |
| Liquity LUSD | LUSD | Liquity Protocol | $38,633,600 | Stablecoins |
| Level USD | lvlUSD | Level | $44,012,687 | Stablecoins |
| M | M | M0 | $255,636,099 | Stablecoins |
| MXNB - Mexican Peso Stablecoin | MXNB | Bitso | $792,260 | Stablecoins |
| Tether MXNt | MXNT | Tether Holdings | $1,075,621 | Stablecoins |
| Open Money USD | omUSD | Open Money DAO | $112,811 | Stablecoins |
| Plume USD | pUSD | Nucleus | $29,310,947 | Stablecoins |
| Paypal USD | PYUSD | Paxos | $1,219,230,017 | Stablecoins |
| Ripple USD | RLUSD | Ripple | $686,743,454 | Stablecoins |
| Synthetix sEUR | sEUR | Synthentix Protocol Governed by Synthetix DAO | $1,166,068 | Stablecoins |
| Synthetix sUSD | sUSD | Synthentix Protocol Governed by Synthetix DAO | $39,068,968 | Stablecoins |
| BiLira Turkish Lira | TRYB | BiLira | $11,370,678 | Stablecoins |
| Usual USD | USD0 | Usual | $578,044,634 | Stablecoins |
| USD1 | USD1 | BitGo | $2,323,562,433 | Stablecoins |
| USD Coin | USDC | Circle | $66,993,811,005 | Stablecoins |
| USDD | USDD | TRON | $745,776,540 | Stablecoins |
| Ethena USDe | USDe | Ethena | $12,152,119,957 | Stablecoins |
| Global Dollar | USDG | Paxos | $550,830,009 | Stablecoins |
| Glo Dollar | USDGLO | Brale | $534,660 | Stablecoins |
| Mountain USD | USDM | Mountain Protocol | $17,177,598 | Stablecoins |
| OpenEden OpenDollar | USDO | OpenEden Digital | $291,902,205 | Stablecoins |
| Pax Dollar | USDP | Paxos | $66,953,468 | Stablecoins |
| Quantoz USDQ | USDQ | Fidelity Investments | $50,973,530 | Stablecoins |
| Sky USD | USDS | Sky | $8,009,000,000 | Stablecoins |
| USD Tether | USDT | Tether Holdings | $169,940,340,122 | Stablecoins |
| USDtb | USDtb | Ethena | $1,449,215,490 | Stablecoins |
| Verified USD | USDV | Verified USD | $152,231 | Stablecoins |
| Anzen USDz | USDz | Anzen | $121,865,284 | Stablecoins |
| VNX Swiss Franc | VCHF | VNX | $430,328 | Stablecoins |
| StraitsX Indonesian Rupiah | XIDR | Xfers Pte Ltd | $121,503 | Stablecoins |
| StraitsX Singapore Dollar | XSGD | Xfers Pte Ltd | $15,869,020 | Stablecoins |
| Z.com USD | ZUSD | GMO Trust | $1,156,683 | Stablecoins |
| Apple Inc. Common Stock | AAPL.d | Dinari | $85,397 | Stocks |
| Apple xStock | AAPLx | Backed Finance (xStocks) | $4,327,130 | Stocks |
| AbbVie xStock | ABBVx | Backed Finance (xStocks) | $610,740 | Stocks |
| Adobe Inc. Common Stock | ABDE.d | Dinari | $1,517 | Stocks |
| Abbott xStock | ABTx | Backed Finance (xStocks) | $536,990 | Stocks |
| Accenture xStock | ACNx | Backed Finance (xStocks) | $518,440 | Stocks |
| AMBRx xStock | AMBRx | Backed Finance (xStocks) | $589,680 | Stocks |
| AMC ENTERTAINMENT HOLDINGS, INC. | AMC.d | Dinari | $350 | Stocks |
| Advanced Micro Devices, Inc. Common Stock | AMD.d | Dinari | $29,369 | Stocks |
| Amazon.com, Inc. Common Stock | AMZN,d | Dinari | $36,491 | Stocks |
| Amazon xStock | AMZNx | Backed Finance (xStocks) | $2,288,263 | Stocks |
| AppLovin xStock | APPx | Backed Finance (xStocks) | $684,604 | Stocks |
| ARK Innovation ETF | ARKK.d | Dinari | $1,156 | Stocks |
| ARK Space Exploration & Innovation ETF | ARKX.d | Dinari | $345 | Stocks |
| Arm Holdings plc American Depositary Shares | ARM.d | Dinari | $3,748 | Stocks |
| Broadcom Inc. Common Stock | AVGO.d | Dinari | $2,269 | Stocks |
| Broadcom xStock | AVGOx | Backed Finance (xStocks) | $705,600 | Stocks |
| AstraZeneca PLC American Depositary Shares | AZN,d | Dinari | $8,290 | Stocks |
| AstraZeneca xStock | AZNx | Backed Finance (xStocks) | $607,275 | Stocks |
| Boeing Company | BA.d | Dinari | $1,906 | Stocks |
| Bank of America Corporation | BAC.d | Dinari | $323 | Stocks |
| Bank of America xStock | BACx | Backed Finance (xStocks) | $579,411 | Stocks |
| Backed Coinbase | bCOIN | Backed Finance (xStocks) | $6,511,889 | Stocks |
| Backed CSPX Core S&P 500 | bCSPX | Backed Finance (xStocks) | $14,750,890 | Stocks |
| Blackrock, Inc. | BLK.d | Dinari | $2,623 | Stocks |
| Backed NVIDIA | bNVDA | Backed Finance (xStocks) | $1,779,900 | Stocks |
| Alpha Architect 1-3 Month Box ETF | BOXX.d | Dinari | $12 | Stocks |
| Berkshire Hathaway xStock | BRK.Bx | Backed Finance (xStocks) | $684,600 | Stocks |
| Caterpillar Inc. | CAT.d | Dinari | $1,535 | Stocks |
| Carnival Corporation | CCL.d | Dinari | $4 | Stocks |
| Comcast xStock | CMCSAx | Backed Finance (xStocks) | $525,910 | Stocks |
| Coinbase Global, Inc. Class A Common Stock | COIN.d | Dinari | $66,976 | Stocks |
| Coinbase xStock | COINx | Backed Finance (xStocks) | $3,838,200 | Stocks |
| Costco Wholesale Corporation Common Stock | COST.d | Dinari | $1,386 | Stocks |
| CRCLx xStock | CRCLx | Backed Finance (xStocks) | $6,211,671 | Stocks |
| Salesforce xStock | CRMx | Backed Finance (xStocks) | $508,995 | Stocks |
| CrowdStrike xStock | CRWDx | Backed Finance (xStocks) | $471,016 | Stocks |
| Cisco Systems, Inc. Common Stock (DE) | CSCO.d | Dinari | $821 | Stocks |
| Cisco xStock | CSCOx | Backed Finance (xStocks) | $548,658 | Stocks |
| Chevron Corporation | CVX.d | Dinari | $881 | Stocks |
| Chevron xStock | CVXx | Backed Finance (xStocks) | $569,448 | Stocks |
| Delta Air Lines, Inc. | DAL.d | Dinari | $192 | Stocks |
| DFDV xStock | DFDVx | Backed Finance (xStocks) | $1,414,677 | Stocks |
| Danaher xStock | DHRx' | Backed Finance (xStocks) | $571,860 | Stocks |
| The Walt Disney Company | DIS.d | Dinari | $618 | Stocks |
| iShares MSCI Emerging Markets ETF | EEM.d | Dinari | $1,980 | Stocks |
| WisdomTree Siegel Global Equity Digital Fund | EQTYX | WisdomTree | $0 | Stocks |
| Ero Copper Corp. | ERO.d | Dinari | $767 | Stocks |
| Exodus Movement Inc. Class A | EXOD | Securitize | $245,560,050 | Stocks |
| Ford Motor Company | F.d | Dinari | $411 | Stocks |
| SPDR Gold Trust, SPDR Gold Shares | GLD.d | Dinari | $7,613 | Stocks |
| Gold xStock | GLDx | Backed Finance (xStocks) | $869,624 | Stocks |
| Galaxy Digital Inc. Class A Common Stock | GLXY | Superstate Opening Bell | $773,425 | Stocks |
| GameStop Corp. Class A | GME.d | Dinari | $11,191 | Stocks |
| Gamestop xStock | GMEx | Backed Finance (xStocks) | $540,199 | Stocks |
| Alphabet Inc. Class A Common Stock | GOOGL.d | Dinari | $49,299 | Stocks |
| Alphabet xStock | GOOGLx | Backed Finance (xStocks) | $4,327,757 | Stocks |
| Goldman Sachs xStock | GSx | Backed Finance (xStocks) | $741,890 | Stocks |
| Home Depot xStock | HDx | Backed Finance (xStocks) | $619,185 | Stocks |
| Honeywell xStock | HONx | Backed Finance (xStocks) | $512,509 | Stocks |
| Robinhood Markets, Inc. Class A Common Stock | HOOD.d | Dinari | $89,874 | Stocks |
| Robinhood xStock | HOODx | Backed Finance (xStocks) | $3,388,906 | Stocks |
| Hut 8 Corp. Common Stock | HUT.d | Dinari | $284 | Stocks |
| SPDR Nuveen ICE High Yield Municipal Bond ETF | HYMB.d | Dinari | $5 | Stocks |
| iShares Gold Trust | IAU.d | Dinari | $22,169 | Stocks |
| International Business Machines xStock | IBMx | Backed Finance (xStocks) | $459,971 | Stocks |
| Intel xStock | INTCx | Backed Finance (xStocks) | $644,800 | Stocks |
| iShares U.S. Aerospace & Defense ETF | ITA.d | Dinari | $2,364 | Stocks |
| Johnson & Johnson | JNJ.d | Dinari | $2,996 | Stocks |
| Johnson & Johnson xStock | JNJx | Backed Finance (xStocks) | $717,160 | Stocks |
| JPMorgan Chase & Co. | JPM.d | Dinari | $8,923 | Stocks |
| JPMorgan Chase xStock | JPMx | Backed Finance (xStocks) | $562,856 | Stocks |
| Coca-Cola Company | KO.d | Dinari | $3,891 | Stocks |
| Coca-Cola xStock | KOx | Backed Finance (xStocks) | $547,014 | Stocks |
| Linde xStock | LINx | Backed Finance (xStocks) | $551,512 | Stocks |
| Eli Lilly xStock | LLYx | Backed Finance (xStocks) | $944,399 | Stocks |
| Lockheed Martin Corp. | LMT.d | Dinari | $175 | Stocks |
| WisdomTree Siegel Longevity Digital Fund | LNGVX | WisdomTree | $0 | Stocks |
| MARA Holdings, Inc. Common Stock | MARA.d | Dinari | $3,860 | Stocks |
| Mastercard xStock | MAx | Backed Finance (xStocks) | $628,902 | Stocks |
| McDonald's Corporation | MCD.d | Dinari | $2,843 | Stocks |
| McDonald's xStock | MCDx | Backed Finance (xStocks) | $1,727,379 | Stocks |
| Medtronic xStock | MDTx | Backed Finance (xStocks) | $554,128 | Stocks |
| MercadoLibre, Inc. Common Stock | MELI.d | Dinari | $3,531 | Stocks |
| Meta Platforms, Inc. Class A Common Stock | META.d | Dinari | $18,705 | Stocks |
| Meta xStock | METAx | Backed Finance (xStocks) | $4,528,694 | Stocks |
| Montis Group Limited | MGL | Archax | $55,350,514 | Stocks |
| WisdomTree Siegel Moderate Digital Fund | MODRX | WisdomTree | $0 | Stocks |
| Merck xStock | MRKx | Backed Finance (xStocks) | $567,905 | Stocks |
| Marvell xStock | MRVLx | Backed Finance (xStocks) | $551,880 | Stocks |
| Microsoft Corporation Common Stock | MSFT.d | Dinari | $31,919 | Stocks |
| Microsoft xStock | MSFTx | Backed Finance (xStocks) | $1,115,906 | Stocks |
| Strategy Inc Common Stock Class A | MSTR.d | Dinari | $1,621,559 | Stocks |
| MicroStrategy xStock | MSTRx | Backed Finance (xStocks) | $5,371,789 | Stocks |
| T-Rex 2X Long MSTR Daily Target ETF | MSTU.d | Dinari | $35,659 | Stocks |
| Netflix, Inc. Common Stock | NFLX.d | Dinari | $15,258 | Stocks |
| Netflix xStock | NFLXx | Backed Finance (xStocks) | $1,806,975 | Stocks |
| Annaly Capital Management. Inc. | NLY.d | Dinari | $1,361 | Stocks |
| NVIDIA Corporation Common Stock | NVDA.d | Dinari | $121,413 | Stocks |
| NVIDIA xStock | NVDAx | Backed Finance (xStocks) | $8,365,023 | Stocks |
| Novo Nordisk xStock | NVOx | Backed Finance (xStocks) | $444,444 | Stocks |
| Oracle xStock | ORCLx | Backed Finance (xStocks) | $661,836 | Stocks |
| abrdn Physical Palladium Shares ETF | PALL.d | Dinari | $523 | Stocks |
| PepsiCo xStock | PEPx | Backed Finance (xStocks) | $598,560 | Stocks |
| Pfizer Inc. | PFE.d | Dinari | $8,261 | Stocks |
| Pfizer xStock | PFEx | Backed Finance (xStocks) | $608,178 | Stocks |
| Procter & Gamble Company | PG.d | Dinari | $4,881 | Stocks |
| Procter & Gamble xStock | PGx | Backed Finance (xStocks) | $325,274 | Stocks |
| Invesco Water Resources ETF - Dinari | PHO.d | Dinari | $208 | Stocks |
| PROLOGIS, INC | PLD.d | Dinari | $479 | Stocks |
| Palantir xStock | PLTRx | Backed Finance (xStocks) | $952,440 | Stocks |
| Philip Morris xStock | PMx | Backed Finance (xStocks) | $515,250 | Stocks |
| abrdn Physical Platinum Shares ETF | PPLT.d | Dinari | $924 | Stocks |
| PayPal Holdings, Inc. Common Stock | PYPL.d | Dinari | $10,894 | Stocks |
| Invesco QQQ Trust, Series 1 | QQQ.d | Dinari | $13,570 | Stocks |
| Nasdaq xStock | QQQx | Backed Finance (xStocks) | $2,859,808 | Stocks |
| Roblox Corporation | RBLX.d | Dinari | $40,592 | Stocks |
| Reddit, Inc. | RDDT.d | Dinari | $6,143 | Stocks |
| Riot Platforms, Inc. Common Stock | RIOT.d | Dinari | $3,174 | Stocks |
| Rocket Lab Corporation Common Stock | RKLB.d | Dinari | $2,585 | Stocks |
| Swarm Apple | sAAPL | Swarm | $29,153 | Stocks |
| Starbucks Corporation Common Stock | SBUX.d | Dinari | $455 | Stocks |
| Swarm Coinbase | sCOIN | Swarm | $214,280 | Stocks |
| Swarm Coupang | sCPNG | Swarm | $8,395 | Stocks |
| Swarm Intel | sINTC | Swarm | $36,406 | Stocks |
| abrdn Physical Silver Shares ETF | SIVR.d | Dinari | $5,730 | Stocks |
| SELLAS Life Sciences Group, Inc. Common Stock | SLS.d | Dinari | $136 | Stocks |
| VanEck Steel ETF - Dinari | SLX.d | Dinari | $39 | Stocks |
| Swarm Microsoft | sMSFT | Swarm | $25,362 | Stocks |
| Swarm Microstrategy | sMSTR | Swarm | $506,038 | Stocks |
| Snowflake Inc. | SNOW.d | Dinari | $105 | Stocks |
| Swarm NVIDIA Corp | sNVDA | Swarm | $30,970 | Stocks |
| Sony Group Corporation American Depositary Shares (Each Representing One Share of Dollar Validated Common Stock) | SONY.d | Dinari | $106 | Stocks |
| Direxion Daily Semiconductor Bull 3X Shares | SOXL.d | Dinari | $252 | Stocks |
| SP Funds S&P Global REIT Sharia ETF | SPRE.d | Dinari | $498 | Stocks |
| SP Funds Dow Jones Global Sukuk ETF | SPSK.d | Dinari | $11,650 | Stocks |
| SP Funds S&P Global Technology ETF | SPTE.d | Dinari | $1,962 | Stocks |
| SP Funds S&P 500 Sharia ETF | SPUS.d | Dinari | $71,485 | Stocks |
| SP Funds S&P World (ex-US) ETF | SPWO.d | Dinari | $147 | Stocks |
| WisdomTree 500 Digital Fund | SPXUX | WisdomTree | $26 | Stocks |
| SPDR S&P 500 ETF Trust | SPY.d | Dinari | $161,794 | Stocks |
| SP500 xStock | SPYx | Backed Finance (xStocks) | $10,324,500 | Stocks |
| Swarm Tesla | sTSLA | Swarm | $70,064 | Stocks |
| WisdomTree Technology & Innovation 100 Digital Fund | TECHX | WisdomTree | $22 | Stocks |
| TJX Companies, Inc. (The) | TJX.d | Dinari | $245 | Stocks |
| ProShares UltraPro QQQ | TQQQ.d | Dinari | $2,662 | Stocks |
| TQQQ xStock | TQQQx | Backed Finance (xStocks) | $637,178 | Stocks |
| Tesla, Inc. Common Stock | TSLA.d | Dinari | $495,239 | Stocks |
| Tesla xStock | TSLAx | Backed Finance (xStocks) | $13,939,879 | Stocks |
| Uber Technologies, Inc. | UBER.d | Dinari | $6,384 | Stocks |
| Procure ETF Trust II Procure Space ETF | UFO.d | Dinari | $308 | Stocks |
| UnitedHealth xStock | UNHx | Backed Finance (xStocks) | $614,840 | Stocks |
| iShares Broad USD High Yield Corporate Bond ETF | USHY.d | Dinari | $5 | Stocks |
| United States Oil Fund, LP - Dinari | USO.d | Dinari | $1 | Stocks |
| VISA Inc. | V.d | Dinari | $6,312 | Stocks |
| Vanguard xStock | VTIx | Backed Finance (xStocks) | $986,358 | Stocks |
| Vanguard FTSE Emerging Markets ETF | VWO.d | Dinari | $2,223 | Stocks |
| Visa xStock | Vx | Backed Finance (xStocks) | $560,062 | Stocks |
| iPath Series B S&P 500 VIX Short-Term Futures ETN | VXX.d | Dinari | $2,814 | Stocks |
| Walmart xStock | WMTx | Backed Finance (xStocks) | $551,931 | Stocks |
| iShares Global Timber & Forestry ETF - Dinari | WOOD.d | Dinari | $27 | Stocks |
| Exxon Mobil Corporation | XOM.d | Dinari | $1,091 | Stocks |
| Exxon Mobil xStock | XOMx | Backed Finance (xStocks) | $556,400 | Stocks |
| Block, Inc. | XYZ.d | Dinari | $1,186 | Stocks |
| Yum! Brands, Inc. | YUM.d | Dinari | $74 | Stocks |
| Jiritsu Treasury | JTRSY | Jiritsu | Treasuries | |
| abrdn Liquidity Fund (Lux) – US Dollar Fund | AAULF | Archax | $15,452,228 | U.S. Treasuries |
| Franklin OnChain U.S. Government Money Fund | BENJI | Franklin Templeton Benji Investments | $748,651,011 | U.S. Treasuries |
| Backed IBTA $ Treasury Bond 0-1yr | bIB01 | Backed Finance (xStocks) | $9,506,516 | U.S. Treasuries |
| Backed IBTA $ Treasury Bond 1-3yr | bIBTA | Backed Finance (xStocks) | $1,243,081 | U.S. Treasuries |
| BlackRock USD Institutional Digital Liquidity Fund | BUIDL | Securitize | $2,398,895,205 | U.S. Treasuries |
| Backed ZPR1 $ 1-3 Month T-Bill | bZPR1 | Backed Finance (xStocks) | $278,729 | U.S. Treasuries |
| Guggenheim Treasury Services DCP | DCP | Zeconomy | $30,584,054 | U.S. Treasuries |
| DigiFT Money Market Fund Token | DMMF01 | DigiFT | $78,535 | U.S. Treasuries |
| Fidelity® Treasury Digital Fund-OnChain | FDIT | Fidelity Investments | $1,000,010 | U.S. Treasuries |
| Fidelity ILF USD Fund Class G Acc | FIUSD | Sygnum Bank | $45,183,031 | U.S. Treasuries |
| WisdomTree Floating Rate Treasury Digital Fund | FLTTX | WisdomTree | $1,813,469 | U.S. Treasuries |
| Janus Henderson Anemoy Treasury Fund | JTRSY | Centrifuge | $357,215,751 | U.S. Treasuries |
| Cash Management Pool (USDC) | MPLcashUSDC | Maple | $300 | U.S. Treasuries |
| Cash Management Pool (USDT) | MPLcashUSDT | Maple | $50 | U.S. Treasuries |
| Midas TBILL | mTBILL | Midas | $5,949,420 | U.S. Treasuries |
| Nest Treasury Vault | nTBILL | Nest | $18,341,720 | U.S. Treasuries |
| Ondo Short-Term US Government Bond Fund | OUSG | Ondo | $732,166,960 | U.S. Treasuries |
| ArCoin | RCOIN | Arca Labs | $434,655 | U.S. Treasuries |
| Matrixdock Short-term Treasury Bill Token | STBT | Matrixdock | $4,279,611 | U.S. Treasuries |
| OpenEden TBILL Vault | TBILL | OpenEden Digital | $288,675,245 | U.S. Treasuries |
| Swarm iShares $ Treasury Bond 0-1yr UCITS ETF | TBONDS01 | Swarm | $22,121 | U.S. Treasuries |
| Swarm iShares $ Treasury Bond 1-3yr UCITS ETF | TBONDS13 | Swarm | $17,465 | U.S. Treasuries |
| OpenTrade Fixed Term U.S. Treasury Bill Vaults | TBV | OpenTrade (Perimeter Protocol) | $59,404 | U.S. Treasuries |
| Adapt3r Short-Term U.S. Treasury Bill Fund | tfBILL | TrueFi | $1 | U.S. Treasuries |
| WisdomTree TIPS Digital Fund | TIPSX | WisdomTree | $973,748 | U.S. Treasuries |
| Delta Wellington Ultra Short Treasury On-Chain Fund | ULTRA | Libeara | $52,194,051 | U.S. Treasuries |
| Libre SAF VCC - USD I Money Market | UMA | Libre Capital | $41,710,821 | U.S. Treasuries |
| Ondo U.S. Dollar Yield | USDY | Ondo Finance | $655,039,022 | U.S. Treasuries |
| WisdomTree Floating Rate Treasury Fund | USFR.d | Dinari | $17,581,237 | U.S. Treasuries |
| Superstate Short Duration US Government Securities Fund | USTB | Superstate | $273,297,276 | U.S. Treasuries |
| Spiko US T-Bills Money Market Fund | USTBL | Spiko | $110,625,359 | U.S. Treasuries |
| Etherfuse USTRY | USTRY | Etherfuse | $2,260,767 | U.S. Treasuries |
| USTY U.S. Treasury Tokens | USTY | Securitize | $4,660,000 | U.S. Treasuries |
| Circle USYC | USYC | Circle | $517,042,968 | U.S. Treasuries |
| VanEck Treasury Fund | VBILL | Securitize | $75,333,947 | U.S. Treasuries |
| WisdomTree Government Money Market Digital Fund | WTGXX | WisdomTree | $931,056,131 | U.S. Treasuries |
| WisdomTree Long Term Treasury Digital Fund | WTLGx | WisdomTree | $810,142 | U.S. Treasuries |
| WisdomTree 7-10 Year Treasury Digital Fund | WTSTX | WisdomTree | $960,206 | U.S. Treasuries |
| WisdomTree Short-Term Treasury Digital Fund | WTSYX | WisdomTree | $1,029,544 | U.S. Treasuries |
| WisdomTree 3-7 Year Treasury Digital Fund | WTTSX | WisdomTree | $1,000,957 | U.S. Treasuries |
| OpenTrade FT Money Market Fund Yield | XFTB | OpenTrade (Perimeter Protocol) | $3,491,501 | U.S. Treasuries |
| OpenTrade Flexible Term USD Vault | XTBT | OpenTrade (Perimeter Protocol) | $42,214,529 | U.S. Treasuries |
Why Are Institutions So Bullish on RWA Tokenization?
The excitement around RWA tokenization is driven by a clear set of benefits that address long-standing inefficiencies in traditional finance. Here’s why institutions are flocking to this space:
Enhanced Liquidity
Tokenization can turn illiquid assets like real estate and private equity into tradable tokens, unlocking their value and creating new investment opportunities, with tokenized U.S. Treasuries alone climbing from under $1 billion in early 2024 to over $7.4 billion by mid-2025.
Fractional Ownership
By breaking down high-value assets into smaller, more affordable tokens, RWA tokenization democratizes access to investments that were previously only available to the wealthy, broadening the potential user base and enabling fractional investments in assets like real estate projected to reach $4 trillion in tokenized value by 2035.
Increased Transparency and Efficiency
Blockchain technology provides a transparent and immutable record of ownership, reducing the need for intermediaries and streamlining the transaction process, which can lower the cost of capital by 0.24% and generate annual savings of up to $38.4 billion on a $16 trillion market.
24/7 Global Markets
Tokenized assets can be traded on digital exchanges around the clock, creating a more efficient and accessible global market that has already seen the tokenized treasuries sector surge by 539% from January 2024 to April 2025.
Programmable Assets
Smart contracts can automate complex processes like dividend payments and compliance checks, reducing administrative costs and human error.
Challenges on the Road to Mass Adoption For RWAs Tokens
Despite the clear potential, the path to a multi-trillion-dollar RWA market is not without its obstacles. Some of these obstacles include:
Regulatory Uncertainty
The primary challenge is the evolving and fragmented regulatory landscape. For institutions to fully commit, they require clear rules on asset custody, trading, and compliance.
Current policy discussions, like the GENIUS Act, are steps toward providing this clarity, but the journey is ongoing
Technical and Security Risks
The infrastructure is still maturing. Smart contract vulnerabilities, the reliability of off-chain data oracles, and the secure custody of tokenized assets are significant technical hurdles that must be addressed to build lasting trust.
Market Fragmentation
The RWA ecosystem is spread across various blockchains and protocols. This can lead to fragmented liquidity, making it difficult to trade assets efficiently and creating challenges for price discovery.
How RWA Tokenization is Shaping the Future of Finance
The tokenization of real-world assets is not just a new trend. It represents a fundamental shift in how we think about ownership, value. It stands as a financial revolution in the making, with the overall RWA sector positioned to grow more than 50-fold by 2030 to surpass the $10 trillion mark in some estimates, though leading projections point to $16 trillion as the baseline.
The question is no longer “if” RWA tokenization will impact finance, but “when” and “how”. Its success depends on the industry’s ability to build robust, secure infrastructure and navigate a complex regulatory environment. For now, it remains one of the most compelling and data-supported trends shaping the future of finance.