Tokenized RWAs See Strong Growth in 2025, Outpacing Stablecoins: Report

Last 12 months was a big one for real-world property (RWAs), because the sector noticed intensified competitors, regulatory progress, and an inflow of conventional institutional gamers. In reality, the RWAs sector carried out so properly that it outpaced stablecoins in progress.

According to CoinGecko’s RWA Report 2026, RWAs grew from 2.7% the dimensions of stablecoins to six.4% because the tempo of tokenization accelerated in 2025. The report examines the sector’s growth from January 2025 via the tip of Q1 2026.

RWAs Outpace Stablecoins in Yearly Growth

Within 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% progress from January 2025.

The RWAs sector contains 4 asset lessons: 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% improve through 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.

Despite the expansion, the market share of tokenized treasuries fell barely from 73.7% to 67.2% as a result of different asset lessons recorded notable progress. Commodities accounted for 28.7%, whereas shares and ETFs captured 2.5% and 1.5%, respectively, by the tip of Q1 2026.

The progress 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 progress. 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 Gain Traction

Furthermore, the market cap of tokenized shares grew from $2.09 million in June 2025 to $486.69 million in March 2026. Tech firms like Circle, Tesla, Nvidia, and Alphabet led the cost. Spot buying and selling volumes for this asset class totaled $15.1 billion by the tip of final quarter, surpassing the $14.8 billion traded in the second half of 2025.

As for tokenized ETFs, this asset class recorded broad-based progress, with a market cap that rose from $0.62 million in July 2025 to $297.5 million by March 2026. It at present accounts for half the dimensions of tokenized shares.

Interestingly, the RWAs perpetuals quantity grew from $313 billion for the entire of 2025 to $524.8 billion by Q1 2026. With this stage of progress, 2026 is prone to see double the quantity recorded for 2025.

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