Tokenized RWAs Surpass $38 Billion, Market Focus Shifts from Listing to Utility

TechFlow reported on September 15 that, according to Cryptopolitan, the scale of on-chain tokenized real-world assets (RWA) has exceeded $38.6 billion, with over 4.24 million holder addresses. Among them, U.S. Treasury bonds account for the largest share, exceeding $15.9 billion; commodities stand at $4.9 billion, active strategies at $3.6 billion, asset-backed credit at $2.56 billion, and tokenized stocks at $2.52 billion. From an on-chain distribution perspective, Ethereum leads with $17.3 billion, BNB Chain follows at $5.6 billion, and Solana ranks third at $4.3 billion.