Tokenized RWAs Surge to $24B in 2025, Led by Private Credit and Ethereum

Tokenized assets in the real world (RWAS) have evolved from a specialized concept on the common case of institutional financing, while the private loan led the accusation because investors monitor programmable revenues.

It was one of the main with you from Redstone’s H1 2025 RWA market overviewCo -author of Defic Protocol Gauntlet and data platform RWA.XYZ.

The RWA tokenized market, with the exception of stablecoins, increased by up to 380% since 2022 and reached a total of $ 24 billion.

Although most discourse focused on tokenized accounts for the treasury, with Black -shin and Franklin Templeton Private credit now represents more than half of the RWA market and reaches $ 14 billion, he said.

Private credit, also known as direct investment circles loans, provides RWA investors with revenues from 8% to 12%, reported, emphasizing products such as Apollo’s Acred Fund.

As an alternative asset manager FS Investments watchesInvestors have long turned to a private loan for “profitability” on public credit markets. According to Redstone, tokenization now increases settlement and liquidity speed, reduces entry barriers, and allows fractional participation – the ability that private credit markets were historically lacking.

Related: Midas starts tokenized T-Bill on Algorand

Ethereum remains the dominant tokenized RWA platform

While The dominance of the Ethereum was eroded In recent years, from faster and more scalable blockchains remains the front network for tokenized RWA, Redstone said. By the middle of 2025, the Ethereum network organized about $ 7.5 billion in a tokenized value across 335 products, which represents 59% of the total market.

“While the decentralized Ethereum administration historically limited its institutional reach, the start of Etheize in January 2025 meant a strategic pivot,” said the report referring to Marketing efforts Ethereum Foundation bring more institutional participation onchain.

However, Solana reported the report as a “high -performance Challenger” as its growing role in the tokenized state cash register market.

Since June, Solana has hosted about $ 351 million tokenized assets.

Aptos also recorded an increased deployment of RWA and organized $ 349 million in tokenized assets in June. In particular, Aptos was the first network of virtual machines outside the Ethereum for Blackrock’s Buidl Fund.

Avalanche now hosts $ 188 million in tokenized assets, including the tokenized KRK fund while XRP Ledger According to the report, he appeared as a “regulated newcomer” with a tokenized RWAS of $ 157 million.

Related: Solana Foundation, Bitget Wallet Join “Market Alliance” Ondo Finance