Tokenized public-market RWA value grew from $5.6B to $16.7B in 2025, marking the strongest expansion the sector has seen since inception.
Tokenized US Treasuries remained the largest RWA category, with tokenized value rising from $3.9B to $9.2B in 2025. The standout instrument was BlackRock’s BUIDL, issued via Securitize, which reached $2.3B in AUM.
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Tokenized public-market RWA value grew from $5.6B to $16.7B in 2025, marking the strongest expansion the sector has seen since inception.
Tokenized US Treasuries remained the largest RWA category, with tokenized value rising from $3.9B to $9.2B in 2025. The standout instrument was BlackRock’s BUIDL, issued via Securitize, which reached $2.3B in AUM.
- Unfolded