Analysts at CoinShares and Token Terminal have published a joint report, according to which the volume of tokenized real assets (RWAs) on credit platforms and decentralized exchanges reached $7.4 billion in the second quarter of 2026. This figure significantly exceeds the value of 2.3 billion dollars recorded a year earlier. The trend towards the growth of RWA is developing against the background of a general cooling of interest in the DeFi sector, where the total volume of deposits decreased by about 15%. The head of CoinShares, Jean-Marie Mognetti, attributes the success of the direction to the financial usefulness of assets: the ability to earn income from tokens, even when they are used as collateral, significantly reduces the opportunity costs of users. By the end of the reporting period, the share of RWA in total DeFi deposits was 6%, whereas a year ago it did not exceed 1.7%.

Tokenized treasury funds such as BUIDL and JTRSY, as well as profitable stablecoins and strategies, including sUSDe and sUSDS, became the main drivers of growth. The Ethereum network holds the undisputed leadership, accumulating about 70% of all RWA deposits, while other networks, including Solana with the Kamino protocol, also show positive dynamics. The profitability of the instruments under consideration ranged from 3.2% for conservative Treasury bonds to 5.5% for private lending strategies. The audience of the products is heterogeneous: while holders of institutional funds operate with large amounts of capital, retail users of tokenized shares own significantly smaller amounts. Despite the influx of funds, the overall revenue of DeFi applications has declined, and the RWA segment has not yet been able to fully compensate for the decline in activity in the crypto-native sectors.

The RWA spot trading market on DEX also showed growth, increasing by 220% year-on-year to $6.3 billion, although this still represents less than 2% of the total turnover of decentralized platforms. Traders are most active in pairs with tokenized gold and profitable tokens. However, the perpetual futures market is experiencing a real boom: the turnover of contracts for traditional assets has exceeded $ 200 billion, accounting for almost a third of the total trading volume. The Hyperliquid platform and its RWA venture tradeXYZ have demonstrated multiple growth, offering users access to trading in oil, metals, and stocks of technology giants.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.