Headline Numbers
| Metric (RWA.xyz, Oct 26, 2026) | Value | 30-day change |
|---|---|---|
| Distributed asset value | $39.04B | +0.73% |
| Represented asset value | $389.32B | +7.98% |
| Stablecoin value (tracked separately) | $289.24B | −2.00% |
| RWA holders (addresses) | 5,336,558 | +10.65% |
| Networks tracked | 39 | — |
Adding distributed and represented value gives about $428 billion, and adding stablecoins gives about $718 billion (RWAToday arithmetic). Represented value is volatile because a few large ledger records dominate it: RWA.xyz showed $218.27 billion on July 29, per insights4.vc, against $389.32 billion now. Month-to-month swings there say little about investor demand. Holder counts are addresses, not unique people.
By Asset Class
| Asset class | Distributed value | As of | Notes |
|---|---|---|---|
| US Treasury funds | $14.65B | Oct 18 | 120 assets, 85,924 holders, 7-day yield 3.64%. About 38% of distributed value (RWA.xyz via iDRX, Oct 14). |
| Credit | $7.99B (represented: $37.55B) | Oct 18 | 2,654 assets, 198,623 holders; distributed value −0.39% over 30 days. |
| Commodities | $5.16B | Oct 23 | Tether Gold about $3.0B and Paxos Gold about $1.8B; +4.87% over 30 days. |
| Stocks and ETFs | $3.28B | Oct 13 | Binance bStocks lead at $930.5M. Holders 4.38M (+21.54%); monthly transfer volume −71.62% to $9.96B. |
| All other classes | about $8B | — | By subtraction; dates differ, so treat as approximate. |
The Treasury Funds Behind the Number
| Fund | Issuer | Value (RWA.xyz, Oct 6) |
|---|---|---|
| USYC | Circle | $2.41B |
| USDY | Ondo Finance | $2.30B |
| BUIDL | BlackRock (Securitize platform) | $2.25B |
| BENJI + iBENJI | Franklin Templeton | $0.76B + $1.71B |
| WTGXX | WisdomTree | $1.24B |
| JLTXX | J.P. Morgan Asset Management | $0.68B |
| USTB | Invesco fund on Superstate | $0.58B |
| OUSG | Ondo Finance | $0.32B |
By Network
| Network | Distributed value | Share of distributed | Holders | Represented value |
|---|---|---|---|---|
| Ethereum | $15.89B | 40.7% | 288,631 | $106.4M |
| BNB Chain | $6.22B | 15.9% | 2,119,204 | — |
| Solana | $4.86B | 12.5% | 842,098 | $125.9M |
| Stellar | $3.76B | 9.6% | 24,201 | $78.2M |
| Avalanche | $1.59B | 4.1% | 10,035 | $11.40B |
| XRP Ledger | $0.64B | 1.6% | 2,920 | $4.81B |
| Provenance | $0.06B | 0.1% | 205 | $25.60B |
| Canton | — | — | — | $343.02B |
The four largest networks by distributed value (Ethereum, BNB Chain, Solana and Stellar) hold about 78.7% of it. Holders tell a different story: BNB Chain has more than 2.1 million holder addresses against Ethereum's 288,631, despite holding less than half the value. The networks with the most represented value, Canton and Provenance, hold almost none of it as freely transferable tokens.
What Moved
- Distributed value is up, slowly. $34.67 billion on July 22 (KuCoin, citing RWA.xyz), $38.6 billion on September 27 (Stobox), $39.04 billion now: about +12.6% since July and +1.1% since late September.
- Holders are growing faster than value. Holders rose 10.65% in 30 days while distributed value rose 0.73%. That fits the stock-token pattern of many small holders rather than large new inflows.
- Treasuries have slipped. $15.86 billion on July 22 to $14.65 billion in mid-October, about -7.6%.
- Tokenized stocks keep climbing. $951 million in March, $1.89 billion in July and $3.28 billion on October 13: about 3.4 times the March level. Trading activity is cooling, though, with the monthly transfer volume falling 71.62% in RWA.xyz's October 13 snapshot.
- Trading venues tell their own story. A Dune report summarized by Bloomberg counted more than $37 billion of onchain trading in tokenized stocks and ETFs in the third quarter, a different measure from value held.
Two Trackers, Two Totals
Token Terminal reported $46.3 billion on October 26, against RWA.xyz's $39.04 billion distributed. Its breakdown, as reported by Crypto Briefing, has tokenized Treasury bills at $13.3 billion (RWA.xyz: $14.65 billion), “yield strategies” at $11.6 billion and credit funds at $5.7 billion. The coverage we reviewed doesn't itemize the gap; see our explainer. Compare numbers only within one source and one definition.
- RWA.xyz networks (Oct 26, 2026) — headline and per-network values, holders, 30-day changes
- RWA.xyz Treasury funds — distributed value, assets, holders, 7-day yield
- RWA.xyz credit — distributed vs represented credit
- RWA.xyz commodities (Oct 23) — distributed value and platform split
- FinanceFeeds (RWA.xyz data, Oct 13) — tokenized stocks value, holders, transfer volume
- Eco (RWA.xyz data, Oct 6) — fund-by-fund Treasury values
- Crypto Briefing, Oct 26 — Token Terminal breakdown
- iDRX (RWA.xyz data, Oct 14) — Treasury share of distributed value
- insights4.vc — stock history; represented-value swing
- KuCoin (RWA.xyz data, Jul 22) — July totals
- Stobox — Sept 27 total
- Bloomberg, Oct 22 — Dune Q3 trading volume
→ What counts as a real-world asset?
→ Tokenized US Treasuries: Complete Guide
→ Tokenized Private Credit: Complete Guide