Q1 2026 Real World Asset Tokenization Market Report

Key Contributions — Market Size

• Total tokenized RWA value, end of Q1 2026: ~$27.5–29B (up from ~$21B at start of 2026 — 30% growth in three months)
• Year-over-year growth: 263% vs $7.9B in 2024
• Tokenized US Treasuries: $13.4B
• Tokenized commodities: $7.3B
• Tokenized equities: ~$960M (up from $424M by mid-2025)

Named Products (Treasury-related)

• Circle USYC: $2.7B
• BlackRock BUIDL: $2.4B
• Ondo Finance suite: $2.6B
• Franklin Templeton BENJI: $1.0B
• WisdomTree WTGXX: $861M

Note: this report's BUIDL figure ($2.4B) differs from the RWA.xyz "A Letter to the Believers" figure already compiled in the KB ($1.7B) — sources disagree on exact BUIDL AUM depending on measurement date; treat as a moving figure, not a fixed number.

Other Named Findings

• Ondo Finance is reported to hold roughly 60% of the tokenized equity market.

Key Dates & Events

• Jan 28 — SEC issued a formal tokenized-securities statement
• Feb 23 — SEC approved intraday trading for WisdomTree's WTGXX
• Feb — Hong Kong stablecoin licensing regime announced
• Mar — Federal Reserve/FDIC/OCC joint guidance on capital treatment of tokenized assets
• Apr — Hong Kong Monetary Authority granted its first two stablecoin licenses
• Jan — Galactica closed "Pegasus 1" LNG vessel financing (real-asset tokenization example outside financial-instrument categories)

Institutions Named

BlackRock, Franklin Templeton, WisdomTree, Circle, Ondo Finance, HSBC, NYSE, Nasdaq, DTCC, BNP Paribas, UBS, Morgan Stanley, Deutsche Börse, Binance.

Limitations

Industry-vendor blog (Investax is a tokenization-adjacent services firm) — figures are self-reported/aggregated market tracking, not audited; some figures (BUIDL AUM) conflict with other already-compiled KB sources on exact value.

Source: Q1 2026 Real World Asset Tokenization Market Report by Investax staff