The total value of tokenized real-world assets (Real World Assets, RWA) distributed across blockchain networks exceeded $39 billion in early November 2026, according to data from the RWA.xyz analytics platform as of November 4.
According to the platform, the value of such assets increased by approximately 1% over the past 30 days, while the number of addresses holding tokenized instruments exceeded 5.5 million.
This category includes tokenized government bonds, investment funds, corporate debt instruments, gold, certain types of real estate and other traditional financial assets, the rights to which are represented by digital tokens.
One of the largest segments of the market remains tokenized US Treasury bonds and funds investing in US government debt.
As of November 3–4, the value of distributed tokenized Treasury instruments amounted to approximately $14.2 billion.
According to RWA.xyz, this segment includes around 120 financial instruments with a total of more than 85,000 holder addresses.
Among the largest platforms by the volume of relevant assets are Ondo, with approximately $3.1 billion, Franklin Templeton Benji Investments with $2.9–3 billion, Circle with $2.2 billion and Securitize with $2.1 billion.
Interest in tokenized government bonds is explained by the possibility of combining traditional interest-bearing instruments with the technological advantages of blockchain.
In particular, tokenization makes it possible to automate some operations, simplify the recording of ownership rights to assets and use digital instruments in settlements between financial market participants.
At the same time, tokenized bonds are not equivalent to ordinary cryptocurrencies, since their value is backed by traditional financial obligations and assets, while investors’ rights depend on the terms of the specific product.
The possession of a token also does not guarantee that it can be freely sold at any time. Liquidity depends on trading infrastructure, the number of market participants, redemption rules and regulatory restrictions.
RWA.xyz metrics distinguish between assets distributed directly among holders on blockchain networks and assets merely represented by digital records. These categories should not be mechanically added together, as they reflect different methods of tokenization.
The platform separately tracks stablecoins, whose total volume was estimated at approximately $285 billion in early November.
The tokenization of real-world assets is gradually becoming an independent segment of the financial industry, bringing together banks, asset management companies, financial technology platforms and blockchain developers.
