RWA Market Value Reaches $38.17 Billion Amid DeFi Downturn
RWA, a sector of real-world assets tokenized on-chain, continues to expand despite the downturn in DeFi. As of August 10, 2026, the market size of publicly distributed RWA has reached $38.17 billion, just shy of the $40 billion threshold.
The growth is not due to new crypto narratives, but rather from increased on-chain demand for assets like U.S. Treasury bonds and stocks. BlackRock's BUIDL fund has played a significant role in this growth, with an on-chain scale of around $2.68 billion invested across Ethereum, Avalanche, and Solana.
The RWA market is shifting towards structural differentiation, with the top 62 assets accounting for 88% of the market value. However, despite the impressive data, bottlenecks remain, including asset concentration, legal and custody structures, and regulatory expectations.