Page Last Reviewed: July 7, 2026

As tokenized Treasuries, private credit, and institutional funds have moved on-chain at a pace no other crypto sector has matched, one analytics platform has become the default reference point for tracking where that capital actually sits. RWA.xyz aggregates on-chain data across tokenization platforms, asset managers, and blockchains to answer a question institutions increasingly care about: how much real-world value is now represented on public blockchains, and by whom. Its data is now cited by the U.S. Treasury Department, JPMorgan, and S&P Global, among others.

RWA.xyz functions similarly to a TVL tracker like DefiLlama, but focused specifically on real-world assets — traditional financial instruments represented as tokens on public blockchains. Rather than tracking DeFi protocol deposits, it tracks the on-chain value of things like government bonds, private loans, money market funds, and even tokenized equities, broken down by issuing platform, blockchain network, and asset manager.

The platform distinguishes between two types of tokenized assets: distributed assets, which use the blockchain as an actual distribution layer — letting investors hold and transfer tokens directly through their own wallets — and represented assets, which use the blockchain more as a recordkeeping or reference layer without full on-chain transferability.

According to RWA.xyz’s live data, distributed tokenized asset value stands at roughly $33.1 billion, with total asset holders approaching 955,000 — both figures that have grown sharply since early 2025, when the total tokenized market sat closer to $6 billion. U.S. Treasury products have historically represented the single largest category, though private credit and tokenized funds have both expanded significantly as institutional platforms like Ondo Finance, Securitize, and Franklin Templeton have scaled their offerings. That growth has continued even as the broader crypto market has been volatile, underscoring how tokenized RWAs have increasingly decoupled from token price cycles. Separately, RWA.xyz tracks nearly $295 billion in total stablecoin value, reflecting the platform’s broader scope beyond non-stablecoin RWAs.

RWA.xyz’s data is cited by a notably institutional user base, including JPMorgan, S&P Global, the International Monetary Fund, Moody’s, DTCC, the U.S. Treasury Department, Fidelity, Citibank, and the World Economic Forum. Its periodic “State of RWAs” reports are widely referenced by banks and research firms tracking the sector’s growth, and the platform partners directly with asset issuers to verify data rather than relying solely on public blockchain scraping.

The core dashboards — covering Treasuries, private credit, funds, stocks, platforms, and networks — are free to browse without an account. RWA.xyz also offers expanded access for institutional users, including API access, downloadable data exports, and deeper historical metrics, available by request through the platform.

Both platforms serve a similar function — free, on-chain data aggregation for a specific corner of crypto — but track different things. DefiLlama focuses on DeFi protocol TVL, yields, and stablecoin circulation across the broader crypto ecosystem. RWA.xyz focuses specifically on tokenized real-world assets: Treasuries, private credit, funds, and equities issued by regulated platforms and asset managers. The two datasets overlap on stablecoins and occasionally cross-reference each other’s figures, but RWA.xyz is generally considered the more specialized, institution-facing source for tokenization-specific data.

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