The market for tokenizing real-world assets (RWAs) expanded to $19.32 billion in the first quarter of 2026, as institutional and crypto-native investors increasingly seek blockchain-based exposure to traditional financial products.
Data from a new CoinGecko report on real-world assets shows the sector’s market capitalization grew 256.7% from $5.42 billion at the start of 2025. The growth highlights rising demand for on-chain versions of safe-haven assets amid persistent inflation concerns and currency volatility. Total trading volume for RWA-based perpetual contracts reached $524.8 billion during the quarter.
Tokenized U.S. Treasuries remain the largest single category within the RWA market, with a total value of over $10 billion. However, tokenized commodities have become the fastest-growing segment, now accounting for approximately 28.7% of the entire RWA market, or about $5.54 billion.
The surge in demand is most pronounced in the tokenized gold market. Spot trading volume for gold-backed tokens in the first quarter of 2026 reached $90.7 billion, a figure that already exceeds the $84.6 billion traded during the full year of 2025. The market remains heavily concentrated in two dominant products, Paxos Gold (PAXG) and Tether Gold (XAUT), which together represent over 89% of the tokenized commodity market growth.
This article is for informational purposes only and does not constitute investment advice.
