Tokenized market cap
$8.51B
Explore the onchain market for tokenized stocks, commodities, and ETFs. Compare aggregate value, trading activity, performance, and market leaders in one view.
Gold
Circle Internet Group
Silver
Nebius Group
Rocket Lab
CEA Industries
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Most real-world assets are tokenized by more than one issuer. CoinStats combines them: Tesla xStock, Tesla by Ondo and Tesla bStocks roll into a single Tesla row, so the market cap and volume shown are the whole onchain market for that asset rather than one wrapper’s share of it. Open any asset to see every wrapper listed separately.
Figures on this page cover tokenized stocks, commodities and ETFs. Tokenized treasuries, money-market funds, private credit and RWA protocol tokens are deliberately not counted, so these totals are smaller than trackers that fold those categories in.
Every row here is an underlying asset, not a token. The individual wrapper tokens keep their own coin pages; an asset page is where they are compared side by side.
A real-world asset, or RWA, is something that exists off-chain — a share in a listed company, a bar of gold, an exchange-traded fund, a government bond — represented onchain by a token. The token is a claim on the underlying asset, issued and backed by a company that holds the real thing, while the token itself trades on a blockchain like any other crypto asset. That is the whole idea behind tokenization: keep the asset where it legally lives, and move the ownership record onto rails that settle in seconds and never close.
This page tracks the onchain side of that market. It does not price Tesla stock or gold itself — it prices and aggregates the tokens that reference them, so you can see how much capital has actually moved onchain and how that value is spread across issuers.
An issuer buys or custodies the underlying asset, then mints a matching supply of tokens on one or more blockchains. A smart contract governs how those tokens transfer, and the issuer publishes proof of reserves or an attestation showing the collateral behind them. Redemption is the other half: the right to hand the token back and receive the asset or its cash value, subject to the issuer’s terms and the holder’s jurisdiction.
Because the same underlying asset is often tokenized by several issuers on several chains, one company or commodity can have many wrappers at once — different symbols, different contracts, different liquidity.
The market spans equities, commodities such as gold and silver, exchange-traded funds, government bonds and tokenized treasuries, private credit, real estate and pre-IPO shares. Tokenized treasuries and money-market funds are currently the largest category by value, with private credit close behind.
Separate from all of these are RWA protocol tokens — the governance and infrastructure tokens of the projects building tokenization rails. Those are ordinary crypto assets rather than claims on an off-chain asset, and they sit in the RWA Protocol category rather than here.
Fractional ownership lets a token represent a sliver of an expensive asset, which lowers the minimum position size. Settlement is onchain and continuous, so these markets trade around the clock rather than on an exchange calendar. Costs fall because transfer and custody are handled by smart contract rather than by a chain of intermediaries, and collateral that would otherwise sit idle can earn onchain yield or be reused elsewhere in DeFi.
For issuers the appeal is distribution: a token reaches any wallet on a public chain without a broker relationship, which is why asset managers and exchanges have moved into the space faster than most expected.
Tokenized does not mean risk-free. A token is only worth what the issuer’s promise is worth: if the legal claim is unenforceable in a holder’s jurisdiction, or the custody arrangement fails, the onchain balance does not help. Proof of reserves varies in quality, and some issuers publish little.
Liquidity is thinner than on the underlying market, which is why a tokenized price can drift from the asset it references. Redemption may be restricted to verified or institutional holders, and availability differs by country. Smart-contract risk sits on top of all of it.
rwa_methodology_description
RWA tokens can carry issuer, custody, smart-contract, liquidity, regulatory, and redemption risks. Token prices may differ from the underlying asset and availability can vary by jurisdiction.
RWA stands for real-world asset. In crypto it refers to a blockchain token that represents ownership of, or a claim on, an asset that exists off-chain — such as a share, a commodity, an ETF, a government bond or private credit. The token trades onchain while the underlying asset is held by an issuer or custodian.
A tokenized real-world asset is an onchain token designed to represent exposure to an offchain asset such as a stock, commodity, or exchange-traded fund.
It depends which of two groups you mean. Tokenized assets are tokens that represent one specific stock, commodity or ETF — that is what this page tracks. RWA protocol tokens are the governance and infrastructure tokens of the projects building tokenization rails; they are ordinary crypto assets and are listed in the RWA Protocol category on CoinStats.
Equities, commodities such as gold and silver, exchange-traded funds, government bonds and treasuries, private credit, real estate and pre-IPO shares are all being tokenized today. This page tracks tokenized stocks, commodities and ETFs.
The displayed market cap is the aggregate value of tracked onchain tokens associated with the same real-world asset. It is not the market capitalization of the underlying traditional asset.
Trading hours, liquidity, fees, collateral design, redemption terms, and market demand can create differences between a token and the price of the asset it references.
Tokenized assets trade on a mix of centralised and decentralised venues, and availability depends on the issuer and on the holder's jurisdiction — some tokens are restricted to verified or non-US holders. Open an asset to see which markets list its wrappers, then check the issuer's own terms before trading.