Tokenized RWAs Surge Past $7.4 Billion Amid DeFi Contraction

Crypto investors are increasingly turning to tokenized Real-World Assets (RWAs) as a store of value and yield generator, despite the broader DeFi market contraction.

Between Q2 2025 and Q2 2026, deposits of RWAs more than tripled from $2.3 billion to $7.4 billion, driven by their use as collateral, liquidity sources, or borrowing support in lending protocols and decentralized exchanges (DEXs).

The growth of tokenized funds backed by treasury bonds is a significant factor, with products like BlackRock's BUIDL, JTRSY, or sUSDS allowing investors to continue earning yield while mobilizing their assets in DeFi.

However, this shift also highlights the need for greater transparency and regulation, as RWA values still rely on off-chain dependencies such as issuers, custodians, and legal documents.