Tokenized Assets Hit $34 Billion as Investors Favor On-Chain Markets

Tokenized assets have surpassed $34 billion in value as investors increasingly favor on-chain markets. Dune's latest report found that tokenized real-world assets (RWA) grew more than 140% over the past year, with cash-equivalent products accounting for nearly half of the market.

The majority of tokenized equity supply consists of single stocks, representing 81%, while ETFs account for just 19%. Tokenized equities generated a whopping 93% of August spot trading volume despite being the smallest tracked asset class. Binance Research measured tokenized equities at $4.43 billion, a staggering 390.4% increase during 2026 through September 15.

The SEC has granted a five-year conditional exemption allowing qualifying venues to test tokenized U.S. stock trading under strict conditions. Tokenized equities are growing rapidly but remain tiny, covering just 0.0029% of the $151.9 trillion listed equity market.