Tokenized real-world assets (RWAs) posted strong growth through 2025 and early 2026, with market capitalization rising from $5.42 billion to $19.32 billion, according to CoinGecko’s RWA Report 2026. That represents a 256.7% increase between January 2025 and March 2026. Over the same period, RWAs grew from 2.7% to 6.4% of the stablecoin market’s size, highlighting faster expansion than one of crypto’s most established sectors.
Treasuries Lead, but Commodities Gain Ground
Within the sector, tokenized treasuries remained the largest category, adding $9 billion in market cap. Still, their share of the RWA market slipped from 73.7% to 67.2% as other categories expanded at a quicker pace.
Commodities stood out as a major driver of growth. Backed largely by gold-linked tokens such as Tether Gold (XAUT) and PAX Gold (PAXG), the segment’s market cap climbed 289% to $5.55 billion. Tokenized stocks and ETFs also advanced, reaching $486.69 million and $297.5 million, respectively, by March 2026.
Perpetual Trading Volume Surges
Market activity also accelerated in derivatives. RWA perpetual trading volume rose from $313 billion in 2025 to $524.8 billion by the first quarter of 2026. If that pace continues, yearly volume could potentially double, pointing to rising trader interest alongside broader adoption of tokenized assets.
The latest figures suggest that blockchain-based versions of traditional financial assets are gaining traction across multiple categories. With treasuries, commodities, stocks, and ETFs all expanding, tokenized RWAs are becoming a more significant part of the broader digital asset market.