Ethereum’s Tokenized RWA Market Surpasses $17 Billion as Solana Records 90% Monthly Surge

• Ethereum’s tokenized real-world asset (RWA) market cap has exceeded $17 billion, marking a 315% increase from $4.1 billion a year ago.
• The network now accounts for approximately 34% of the total on-chain RWA value across all blockchain platforms.
• Solana is experiencing a rapid surge, with its RWA value jumping over 90% in the last 30 days to reach a new all-time high of $1.7 billion.

The landscape for tokenized real-world assets (RWAs) is shifting as Wall Street institutions accelerate their transition to on-chain finance. According to recent data, Ethereum has solidified its position as the dominant settlement layer for tokenized assets, with its market value on the mainnet surpassing $17 billion. This growth represents a massive 315% year-over-year expansion, fueled largely by institutional interest from giants like BlackRock and JPMorgan.

While Ethereum remains the leader by total volume, Solana has emerged as a high-growth competitor in the sector. Over the past 30 days, the value of tokenized assets on Solana surged by more than 90%, climbing from $873 million in January to approximately $1.7 billion by mid-February 2026. This monthly growth has outpaced almost every other major Layer 1 network, positioning Solana as the third-largest blockchain for RWA tokenization, trailing only Ethereum and BNB Chain.

Institutional products are the primary drivers behind these figures. BlackRock’s BUIDL fund, which invests in short-term U.S. government securities, has become a cornerstone of the Ethereum ecosystem. On Solana, a similar trend is visible, where U.S. Treasury-backed products account for over 53% of the network’s RWA total. The expansion is further supported by the introduction of tokenized equities, such as xStock versions of Tesla and Nvidia, which allow for fractional ownership and 24/7 trading availability.

The rise in RWA value is also intrinsically linked to the stablecoin market. Ethereum’s mainnet currently hosts over $175 billion in stablecoins, providing the deep liquidity necessary for large-scale institutional settlement. Solana, meanwhile, has seen its stablecoin footprint cross the $10 billion threshold, a metric that analysts believe is a precursor to further institutional adoption as firms like Western Union prepare to launch on-chain settlement platforms later this year.

“We think stablecoins and tokenization are megatrends, and Ethereum and Solana are likely to be the biggest beneficiaries of that growth,” noted analysts from Bitwise in a recent market outlook. The trend reflects a broader move toward blockchain-native savings and investment instruments that offer higher transparency and lower operational costs than traditional financial systems.

Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.