Active tokenized RWAs surge 589% since early 2025 despite crypto pullback: Binance Research

The market for active tokenized real-world assets expanded 589% between early 2025 and June 2026, even as the broader cryptocurrency industry contended with macroeconomic and policy headwinds, according to Binance Research's latest Monthly Market Insights report. Bonds and money market funds led the sector in dollar terms, adding $6.5 billion in value and growing 83% during the period. Tokenized stocks recorded the fastest growth, with market value rising 422%, while tokenized precious metals increased 39%, or $1.5 billion, as geopolitical uncertainty drove demand for safe-haven assets in January and February and pushed tokenized gold above $6 billion before underlying prices retraced. "2026 marks RWA tokenization's maturation from a Treasury-dominated narrative into a diversified yield ecosystem," Binance said.

The pullback in digital asset markets came as Bitcoin and other tokens fell sharply in early June amid rising expectations of higher interest rates, uncertainty surrounding the CLARITY market structure bill in the United States, and shifting sentiment following Strategy's sale of 32 Bitcoin. The SEC also postponed a plan that would have allowed an "innovation exemption" for tokenized stocks, according to a separate report. Despite those developments, tokenization platforms continued to attract capital: Ondo Global Markets, which offers tokenized stocks and ETFs, surpassed $1 billion in total value locked within eight months of launch, and Kraken's xStocks tokenized equities platform recorded cumulative trading volume exceeding $25 billion in roughly the same period, including a newly listed tokenized equivalent of SpaceX shares.

Institutional adoption is also expanding into adjacent financial infrastructure. Apex Group has begun providing fund services using Goldman Sachs' Digital Asset Platform, reflecting growing demand for blockchain-based settlement and administration in real estate and other asset classes. The Wall Street Journal reported that The Clearing House — a bank-owned payments operator backed by JPMorgan Chase, Citibank, Bank of America, BNY and Wells Fargo — plans to launch a tokenized deposit network next year, a move that would extend tokenization efforts beyond investment products and into core payments systems where stablecoins have been gaining ground.