# Tokenized RWA Market Size by Chain

> RWA tokenization market size by chain: tokenized Treasuries, private credit, gold, stocks and funds on each blockchain, excluding stablecoins, valued on-chain.

Markdown copy of https://voltfincrypto.com/apps/tokenized-rwa-market-size-by-chain

**Question:** How much real-world asset value, excluding stablecoins, is tokenized on each blockchain?

- Kind: Dashboard in Voltfin Vantage
- Topic: [Tokenized assets](https://voltfincrypto.com/topics/rwa)
- Chains: Multi-chain, Ethereum, Solana, Polygon, Arbitrum, Avalanche, Stellar, Base, BNB Chain
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

Tokenized real-world assets are traditional assets issued as tokens on public chains: Treasury and money-market funds, private credit, gold, stocks, bonds and other funds. This dashboard measures how much of that value lives on each chain, by asset class, from the supply of each token in a registry and a unit value for each, and leaves stablecoins out so the figure measures assets rather than dollars on-chain.

Only tokens that exist on a public chain and can move between holders are counted. Assets whose ownership is only recorded on a permissioned ledger, or mirrored on a chain without transferable tokens, are listed apart. Unit values come from on-chain oracles where they exist, such as fund NAV oracles and the gold reference price, and from issuer reports otherwise, each labelled with its source.

Use it to compare chains, to see which asset classes make up each chain's total and to check any total down to the tokens, supplies and unit values behind it, each pinned to a block.

## Blueprint

### By chain

Tokenized RWA value on each chain and its asset mix.

- **Tokenized RWA value** (USD): Tokenized real-world asset value across every covered chain at the latest day-end blocks, stablecoins excluded.
- **Chains with RWAs** (count): Chains holding at least one registry token with supply on the latest day.
- **Largest chain's share** (%): The largest chain's share of tokenized RWA value on the same day.
- **Valued from on-chain sources** (%): Share of the total valued from on-chain oracles rather than issuer reports.
- **Every chain**: Each chain with its tokenized value, asset mix, number of tokens, largest issuer and 30-day change.
- **Tokenized value by chain by day** (USD): Tokenized RWA value on each chain at each day-end block.

### By asset class

How each asset class splits across chains.

- **Largest asset class's share** (%): The largest asset class's share of tokenized RWA value on the latest day.
- **Issuers** (count): Issuers with at least one registry token with supply.
- **Value by asset class** (USD): Tokenized value split by asset class on the latest day.
- **Asset class by chain** (USD): Tokenized value by asset class and chain, to show which chains hold which kinds of assets.

Filters: Asset class (Every asset class, or Treasuries, private credit, commodities, stocks, bonds or other funds); Period (Last 30 days, last year or all history).

## How it will be measured

- Supply is each registry token's totalSupply() at the last block of each day on each chain, scaled by decimals; a bridged copy is counted on the chain where it circulates, with the tokens locked for it on its home chain taken out.
- Unit values come from on-chain sources where they exist (fund NAV oracles, Chainlink XAU/USD for gold, equity price feeds) and from issuer-published NAV otherwise, labelled as off-chain.
- Stablecoins, yield-bearing ones included, are excluded. So is issuance that is only recorded on permissioned ledgers without transferable tokens on a public chain.
- Each token carries one asset class from the registry (Treasuries and money-market funds, private credit, commodities, stocks, bonds or other funds), so chain totals split by class without overlap.
- Every figure carries a receipt: the chain, the block, its hash and the calls behind it.

## Data it needs

- `rwa_supply_daily` (to build): Supply and holders of tokenized treasuries, money-market funds, stocks, gold and credit per token and chain per day, with issuer and asset class.
- `native_prices_daily` (to build): Reference prices of major assets read from on-chain oracle feeds (Chainlink latestRoundData) at each day's last block, with each round's update time.
- `yield_rates_daily` (to build): Supply rates, staking yields and vault share-price growth per pool and vault per day, in one comparable table.
- `bridge_flows_daily` (to build): Deposits into and withdrawals out of canonical and major third-party bridges by chain, token and day, plus escrow balances at day end.
- Source: RWA token registry by asset class, with each contract per chain
- Source: Daily totalSupply() of each registry token at day-end blocks
- Source: Chainlink XAU/USD for gold and on-chain NAV oracles for funds
- Source: Issuer-published NAV (off-chain) where no oracle exists, recorded with its source
- Source: Lockbox and bridge escrow balances for bridged copies

## Questions

### What are tokenized real-world assets?

Traditional assets, such as government debt, loans, gold, stocks or fund shares, represented by tokens on a blockchain. The issuer holds the asset or a claim on it off-chain, and the token records who owns it and lets that ownership move.

### Which blockchain has the most tokenized real-world assets?

The order can change as issuers launch on new chains and large holders move. The chain table sorts every chain by tokenized value at the latest day-end blocks, with the asset classes behind each total, so the current order can be read directly.

### Why are stablecoins excluded from RWA totals?

Stablecoins are by far the largest tokenized asset, so including them would make every chain's figure mostly about dollars on-chain. They have their own pages; this dashboard measures the other assets.

### How are tokenized real-world assets valued?

Supply times a unit value at the same block. Fund tokens use their NAV per share, gold tokens the gold reference price and stock tokens the price of the underlying share. Where a value is only published off-chain, the figure says so and names the source.

### Why do RWA market size totals differ between sources?

Sources differ in whether they include stablecoins, permissioned ledgers, assets only recorded on a chain and tokens held by other tokenized funds. This dashboard lists its registry and its exclusions, so its totals can be reproduced.

## Glossary

- **Real-world asset (RWA)**: An asset that exists outside the chain, such as a bond, loan, commodity or share, represented on-chain by a token.
- **Asset class**: The kind of asset behind a token: Treasuries and money-market funds, private credit, commodities, stocks, bonds or other funds.
- **Permissioned ledger**: A ledger that only approved participants can read or write; assets recorded only there are not counted as tokens on a public chain.

## Related apps

- [Tokenized Treasuries Tracker: BUIDL, BENJI, USYC, OUSG](https://voltfincrypto.com/apps/tokenized-treasuries-tracker)
- [Tokenized Stocks Market Cap by Issuer and Chain](https://voltfincrypto.com/apps/tokenized-stocks-market-cap)
- [Tokenized Gold Supply: XAUT vs PAXG](https://voltfincrypto.com/apps/tokenized-gold-xaut-paxg)
- [Tokenized Treasuries by Fund and Chain](https://voltfincrypto.com/apps/tokenized-treasuries-table)
- [DeFi TVL by Chain: Total Value Locked Rankings](https://voltfincrypto.com/apps/defi-tvl-by-chain)
- [BlackRock BUIDL Fund: Supply, Chains and Holders](https://voltfincrypto.com/apps/blackrock-buidl-fund-tracker)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F