RWA Tokens Rally 11% in a Week as Onchain Value Soars Past $29B

RWA tokens jumped 11% this week as total tokenized asset value surpassed $29 billion, nearly doubling since January. With Ethereum leading the space and BlackRock exploring tokenized ETFs, institutional adoption of real-world assets is accelerating rapidly.

The real-world asset (RWA) tokenization sector is enjoying renewed momentum, with token prices climbing 11% this week and total onchain value of tokenized assets reaching an all-time high.

Data from CoinMarketCap shows the market capitalization of RWA-linked cryptocurrencies surged from $67 billion to nearly $76 billion over the past seven days, marking a new peak on Friday. The rally has been driven by projects at the heart of tokenization, including blockchain oracle provider Chainlink (LINK), layer-1 network Avalanche (AVAX), and DeFi platform Ondo Finance (ONDO), which has gained 9% in a single day.

RWA token market cap hits a new peak. Source: CoinMarketCap

Onchain Value of RWAs Reaches $29 Billion

The upswing in RWA tokens aligns with a surge in the total value of assets brought onchain, which crossed the $29 billion threshold for the first time this week, according to data from RWA.xyz. This figure has nearly doubled since the start of 2025 as banks and asset managers increasingly roll out tokenized products.

Private credit accounts for more than half of this value, while U.S. Treasurys make up roughly a quarter. The remainder spans commodities, equities, alternative funds, and bonds. When stablecoins are included, the total onchain tokenized value rises to a record $307 billion.

Ethereum and its layer-2 ecosystems dominate the sector, hosting more than three-quarters of all tokenized assets. Analysts note that U.S. regulators and policymakers are now actively encouraging tokenization to modernize financial markets, with Wall Street and fintech firms positioning themselves to capitalize on the shift.

RWA onchain value at an all-time high. Source: RWA.xyz

“Tokenization is no longer a niche experiment — it’s being pushed forward by the U.S. government and embraced by major financial players,” investor Ryan Sean Adams commented on X.

BlackRock Steps Into Tokenized ETFs

Adding weight to the momentum, BlackRock, the world’s largest asset manager, is exploring the tokenization of its exchange-traded funds (ETFs). The initiative builds on the success of its USD Institutional Digital Liquidity Fund (BUIDL), a tokenized money-market fund launched on Ethereum in 2024 that has grown to about $2.2 billion in assets under management.

BlackRock CEO Larry Fink has long touted tokenization as the future of finance, stating that every financial asset could one day be represented onchain. “It will democratize finance,” he previously said, highlighting the potential for broader access and efficiency across markets.