CoinGecko’s 2026 RWA report shows tokenized assets surged 256% to $19.3B, led by treasuries, gold, and booming perps trading activity.
The tokenized real-world asset market just crossed a major milestone. CoinGecko’s RWA Report 2026 shows the sector grew 256.7% in fifteen months.
Total market capitalization reached $19.32 billion by the end of Q1 2026. That figure was just $5.42 billion at the start of 2025.
Tokenized RWAs now represent 6.4% of the total stablecoin market, up from 2.7% in early 2025.
Related Reading: RWAs Hit $30B as Institutional Capital Floods On-Chain Markets: Report
Tokenized Treasuries and Commodities Drive RWA Market Growth
Tokenized treasuries remain the dominant asset class within the RWA sector. They added $9 billion during the period, marking a 225.5% increase.
Their share of total RWA market cap sits at 67.2%. The $10 billion mark was crossed for the first time on February 11, 2026, which briefly accelerated momentum.
Tokenized commodities followed closely, rising 289% to reach $5.55 billion. Gold-backed tokens drove most of that climb.
Tether’s XAUT and Paxos’ PAXG together accounted for 89.1% of the growth. PAXG grew its market share from 36.8% to 41.8%, ending Q1 2026 at $2.32 billion in market cap.
XAUT held the top spot at $2.52 billion.
Smaller precious metal tokens also gained ground in absolute terms. Kinesis’ silver-backed KAG more than doubled to $0.35 billion.
KAU added $0.23 billion. Matrixdock’s XAUM scaled elevenfold, reaching $0.07 billion.
Tokenized Stocks and ETFs Scale Rapidly Since Mid-2025
Tokenized stocks launched in mid-2025 and grew quickly. The asset class went from $2.09 million in June 2025 to $486.69 million by March 31, 2026.
Circle leads with a market cap of $171.39 million, capturing a 35.2% share. Tesla and Nvidia trail behind at $61.70 million and $42.59 million respectively.
According to CoinGecko, Ondo Finance’s September 2025 launches tripled the sector’s market cap within a single month.
Spot trading volume for tokenized stocks hit $15.12 billion in Q1 2026 alone. That already surpasses the $14.84 billion recorded across the entire second half of 2025.
Tokenized ETFs reached $297.50 million by end of Q1 2026. Ondo’s SPDR S&P 500 leads the category at $32.45 million. iShares Silver Trust follows at $31.75 million. Ondo holds 8 of the top 10 spots in this category.
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RWA Perpetuals Volume Surges Past 2025 Full-Year Figures
RWA perpetuals recorded $524.79 billion in trading volume during Q1 2026. That already exceeds the $313.02 billion accumulated across all of 2025.
The report notes this marks the fourth consecutive quarter of growth in RWA perps volume.
Open interest rose sharply over the same period. Daily open interest climbed from $0.14 billion in January 2025 to $6.68 billion by March 2026.
The Q1 2026 daily average stood at $4.82 billion. That is over five times the $0.85 billion daily average recorded throughout 2025.
Hyperliquid‘s HIP-3 gained notable traction within this space. Its share of monthly RWA perps volume jumped from 2.8% at launch in October 2025 to 28.6% by March 2026.
HIP-3 volume totaled $130.87 billion in Q1 2026, up from $12.65 billion in Q4 2025.
CoinGecko attributes the broader growth to improving market infrastructure and rising demand across asset classes.
Source: https://www.livebitcoinnews.com/rwa-market-surges-256-to-19b-tokenized-treasuries-lead-boom-report/
