According to Cointelegraph, tokenized assets on the Solana blockchain have reached over $418 million, marking a 140.6% increase year-to-date. This growth significantly outpaces the broader real-world asset (RWA) tokenization market, which expanded by 62.4% in 2025. Solana now hosts a diverse range of RWA tokenization projects, including tokenized stocks, US treasuries, and institutional funds onchain.
Matthew Nay, a research analyst at Messari, attributes Solana's appeal to its high throughput, minimal transaction costs, and strong developer ecosystem. As of Sunday, analytics platform RWA.xyz reports that Solana holds 3.9% of the overall RWA tokenization market, ranking fourth among blockchains. Ethereum leads with 58.4% of the market share, followed by ZKsync Era at 17.2%, and Aptos at 4%.
The largest non-stablecoin RWA protocols on Solana are Ondo, with its U.S. Dollar Yield Fund, and ONe, through its institutional fund. Together, they account for $277 million in tokenized real-world assets on the network. Ondo's fund recorded $2.7 million in cross-chain trading volume over the past 24 hours, generating fees that benefit host blockchains like Solana. Additionally, Solana has generated $3.9 million in revenue over the past 30 days, while Ethereum leads the RWA space with $15.9 million in revenue during the same period.
The RWA tokenization market has surpassed a $25 billion market cap, reflecting its growing significance in the crypto sector. Over the past 30 days, the market cap has increased by 6.3% and has grown 62.4% over the past six months. The tokenization of real-world assets is gaining traction among traditional finance entities and institutions due to its faster speeds, quicker settlements, and enhanced global accessibility.
Various blockchains and protocols are vying for market share in the RWA space. Aptos, a layer-1 blockchain developed by former Meta engineers, has seen its RWA value grow by 52.7% in the past 30 days. Solana's RWA value has increased by 14.6% during the same period, while Ethereum's RWA value grew by 3.6% in the past 30 days. As the market continues to evolve, these blockchains are positioning themselves to capitalize on the expanding opportunities in real-world asset tokenization.
