Ethereum Leads the $65 Billion RWA Race, While Other Public Blockchains Accelerate Competition for Institutional Tokenization Market Share
Source：
www.theblock.co
According to The Block, the total market capitalization of the RWA (Real-World Assets) market has surpassed $65 billion—up approximately 44% from $45 billion at the start of the year—as traditional asset management firms continue accelerating their onchain adoption. Ethereum leads with roughly a 33% market share, solidifying its position as the default platform for institutional tokenization thanks to its deep liquidity, mature smart contract tooling, and broad recognition among traditional financial institutions. Provenance Blockchain ranks second with approximately 27% market share; its RWA ecosystem centers around Figure Lending. BNB Chain, XRP Ledger, and Solana each hold about 6% of the market and are actively building institutional-grade infrastructure to capture additional market share.
