Throughout the final 15 months ending March 2026, the market cap of tokenized RWAs greater than tripled from $5.42 billion to $19.32 billion.
Final yr was a major one for real-world belongings (RWAs), because the sector noticed intensified competitors, regulatory progress, and an inflow of conventional institutional gamers. The truth is, the RWAs sector carried out so effectively that it outpaced stablecoins in development.
According to CoinGecko’s RWA Report 2026, RWAs grew from 2.7% the scale of stablecoins to six.4% because the tempo of tokenization accelerated in 2025. The report examines the sector’s growth from January 2025 by way of the top of Q1 2026.
RWAs Outpace Stablecoins in Yearly Development
Throughout the final 15 months ending March 2026, the market cap of tokenized RWAs greater than tripled from $5.42 billion to $19.32 billion. This represented a 256.7% development from January 2025.
The RWAs sector contains 4 asset courses: treasuries, commodities, shares, and exchange-traded funds (ETFs). Tokenized treasuries have remained the most important asset class, including $9 billion in market cap from January 2025. This accounted for a 225.5% enhance throughout the reporting interval. CoinGecko famous that momentum for this asset class surged after its market cap exceeded the $10 billion mark for the primary time on February 11, 2026.
Regardless of the expansion, the market share of tokenized treasuries fell barely from 73.7% to 67.2% as a result of different asset courses recorded notable development. Commodities accounted for 28.7%, whereas shares and ETFs captured 2.5% and 1.5%, respectively, by the top of Q1 2026.
The expansion in tokenized commodity market share was pushed by gold-backed tokens — Tether Gold (XAUT) and PAX Gold (PAXG). The market cap grew 289% from $1.43 billion to $5.55 billion inside the report interval. XAUT and PAXG accounted for 89% of the market cap development. Notably, spot buying and selling for tokenized gold surpassed the $84.6 billion traded in 2025 to succeed in $90.7 billion in Q1 2026.
RWAs Perpetuals Acquire Traction
Moreover, the market cap of tokenized shares grew from $2.09 million in June 2025 to $486.69 million in March 2026. Tech corporations like Circle, Tesla, Nvidia, and Alphabet led the cost. Spot buying and selling volumes for this asset class totaled $15.1 billion by the top of final quarter, surpassing the $14.8 billion traded within the second half of 2025.
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As for tokenized ETFs, this asset class recorded broad-based development, with a market cap that rose from $0.62 million in July 2025 to $297.5 million by March 2026. It presently accounts for half the scale of tokenized shares.
Apparently, the RWAs perpetuals quantity grew from $313 billion for the entire of 2025 to $524.8 billion by Q1 2026. With this stage of development, 2026 is more likely to see double the amount recorded for 2025.
