The tokenized real-world asset market has climbed to $27 billion, marking a 66% increase. By March 2026, tokenized Treasuries had reached $11.3 billion, representing nearly 45% of total tokenized RWA value. Gold and commodities followed at $6.5 billion, while tokenized stocks and Treasuries posted a 38% rise in the first quarter alone.
Treasuries lead while the asset base widens
Institutional investors are expanding beyond the usual categories of tokenized Treasuries and equities. The article points to commodities such as soybeans and niche assets including AI-focused data centers as part of that broader push. Digital asset researcher Nick Research said in a recent post that tokenized asset growth has moved faster than expected, citing HTX’s latest white paper, which projects the market could reach $340 billion.
Ethereum still hosts about 57% of all tokenized RWA activity. That lead is being challenged as newer platforms and settlement layers add security features and alternative infrastructure. Over the past year, both traditional finance firms and crypto-native protocols have launched products tied to real-world assets with programmable features, drawing capital from institutions looking for compliant and transparent structures.
Bitcoin Layer 2 networks push into tokenization rails
Bitcoin-based networks are becoming more active in this segment. Stacks’ sBTC recently reached $292.4 million in total value locked, offering direct Bitcoin exposure and full settlement finality. Its Dual Stacking feature allows yields to compound directly in BTC terms.
Rootstock, which operates as a Bitcoin sidechain, currently manages between $98 million and $160 million in locked assets. The platform is introducing regulated vault strategies and phased RWA tokenization products aimed at institutions seeking simpler and compliant digital finance exposure. Liquid Network, another Bitcoin-focused environment, now holds about $1.4 billion in tokenized RWAs, showing that Bitcoin-native infrastructure can support large tokenized asset volumes outside established EVM networks.
Solv and VoltFi add yield products on Bitcoin-linked rails
Solv Protocol has passed $1 billion in total value locked through SolvBTC and xSolvBTC. Its liquid staking and structured products are now managed via multisig by Australia-based institutional asset manager Apollo Crypto. Solv is targeting annualized yields of 4% to 6% on tokenized bonds and private credit, all built on Bitcoin Layer 2 networks.
Another example is VoltFi’s gold-backed PAXG vault on Stacks. The product lets users deposit tokenized dollars and earn yield in gold and native Stacks (STX) rewards, without accreditation requirements or external bridge infrastructure. The report notes that total value locked across Bitcoin Layer 2 networks has been accelerating since 2024, supported by adoption efforts and new DeFi yield designs linked to real-world collateral.