Tokenized Assets Rose to $43.8 Billion Despite DeFi Decline

Tokenized real-world assets reached $43.8 billion, even though DeFi fell by about 15% over the year. That is the main conclusion of the joint CoinShares and Token Terminal report for the period from Q2 2025 to Q2 2026.

The RWA segment no longer looks like an experiment. On lending platforms and decentralized exchanges, deposits of such assets more than tripled, from $2.3 billion to $7.4 billion. And this is happening against the backdrop of a cooling crypto market.

For traders, this is an important signal. For long-term holders too. While most altcoins are stalling, tokenized funds, gold, and stocks are showing a different dynamic.

Why are RWAs growing while DeFi weakens?

CoinShares explains it simply: demand for RWAs comes not only from the market, but from practical utility. If an asset can be used as collateral, sold quickly, or used in derivatives, it gets a real role in finance.

Jean-Marie Monetti, co-founder, president, and CEO of CoinShares, put it bluntly: when an asset class grows during a downturn across the entire ecosystem, demand is driven by financial utility. He called tokenization a structural trend, not a cyclical one.

And there is another important detail here. According to the CoinGecko RWA Report 2026, the tokenized RWA market grew from $5.42 billion at the start of 2025 to $19.32 billion on March 31, 2026. That is up 256.7% in 15 months. Not a bad pace for a segment that many still saw as a niche just yesterday.

Market reaction

Tokenized funds currently hold the largest share of RWA at 78.4%. They are followed by commodities at 16.2% and stocks at 5.4%. Tokenized stocks are showing the fastest growth since the start of the year.

“When an asset class continues to grow during a downturn in the ecosystem in which it exists, it means demand is being driven by financial utility, not market cycles,” said Jean-Marie Monetti.

Ethereum remains the main network for this segment. Nearly 70% of all RWA deposits are secured there. Plasma ranks second, while Solana’s growth is linked to the development of the Kamino lending protocol.

There is another sign of maturity as well. Spot volumes on DEXs fell by about 70% over the year, but trading in tokenized assets rose by about 220%. This is no longer just token issuance. This is active trading. That is why the market is starting to behave differently.

• The RWA segment reached $43.8 billion in market capitalization.

• RWA deposits on DeFi platforms rose from $2.3 billion to $7.4 billion.

• DeFi fell by about 15% over the year.

• Ethereum secures nearly 70% of RWA deposits.

• Trading in tokenized assets on DEXs rose by about 220%.

• Tokenized funds account for 78.4% of the RWA market.

What does this mean for investors?

The simplest answer is this: tokenized assets are becoming a bridge between traditional finance and onchain finance. This is visible in funds, gold, and stocks alike. When major institutional players enter the segment, it stops being just a crypto story.

According to CoinGecko, tokenized gold has also accelerated. The market cap of tokenized commodities rose from $1.43 billion to $5.55 billion, while spot trading volume in tokenized gold in Q1 2026 reached $90.7 billion. For comparison, the total for all of 2025 was $84.64 billion. This is no longer a minor side trend.

There is also a practical takeaway for Ukrainian users. If the market continues moving toward tokenized funds and stocks, demand will shift from simply buying a coin to instruments with a clear economic model. Then liquidity, the network, and the way to exit into fiat will matter more. Those who want to quickly sell Bitcoin on Monobank can do so without extra steps.

Frequently asked questions

What is RWA in simple terms?

RWA, or tokenized real-world assets, are things like funds, gold, or stocks brought onto the blockchain in token form. The report refers to a market worth $43.8 billion. It is already being used not only for issuance, but also for collateral and trading.

Why is Ethereum important for tokenized assets?

Because nearly 70% of all RWA deposits are concentrated on Ethereum. That makes the network the segment’s main infrastructure. This is further supported by data showing more than $900 million in combined AUM in the tokenized money market funds JLTXX and MONY on Ethereum.

Are tokenized stocks really growing faster than other RWAs?

Yes. The report says tokenized stocks have the highest growth rate since the start of the year. CoinGecko also valued this market at $486.69 million on March 31, 2026, versus $2.09 million on June 30, 2025. That is a very sharp jump.

The signal here is simple. While DeFi is shrinking, RWA is gaining weight. And if institutional players keep directing capital there, this segment will appear in headlines again and again.

This material is not financial advice. Cryptocurrency trading involves significant risks. Part of this text was prepared with the help of artificial intelligence based on public sources and reviewed by our editorial team.