Tokenized Treasuries Cool as Wall Street Giants Wage a $35 Billion RWA War

The real-world asset (RWA) sector logged $34.67 billion in distributed value this week, down from the $35.2 billion peak recorded on July 10, 2026, according to data from rwa.xyz. The modest pullback over the last week comes even as the broader tokenization ecosystem keeps expanding on other fronts.

Tokenized U.S. Treasuries remain the largest category in the sector, with $15.86 billion in distributed value, up 2.23% over 30 days. The category’s average seven-day yield sits at 3.30%, down 2.18% from the prior week. Circle’s USYC token leads the category at $2.96 billion, though it slipped. Blackrock’s BUIDL holds $2.52 billion, down 12.22% weekly despite a 6.29% monthly gain. Ondo’s USDY sits at $2.16 billion. Franklin Templeton’s iBENJI holds $1.64 billion. JPMorgan’s JLTXX posted the sharpest gain among major treasury products, up 87.23% over 30 days to $809.7 million.

By network, Ethereum carries the largest share of tokenized treasury value at $7.1 billion, followed by BNB Chain at $4.7 billion and Stellar at $1.2 billion.

Tokenized equities and ETFs grew faster than any other category tracked. Distributed value rose 15.10% over 30 days to $1.86 billion. Monthly transfer volume jumped 31.75%, and holders surged 75.71% to 671,490. Figure’s FGRS token leads this category at $211.2 million.

Tokenized commodities carry $4.48 billion in distributed value, down 3.88% over 30 days. Tether Gold (XAUT) and Paxos Gold (PAXG) remain the two largest gold-backed tokens.

Tokenized private equity and venture capital reached $2.13 billion, up 8.26% over 30 days. Securitize’s Blockchain Capital III fund leads at $967.6 million.

Tokenized credit leads on represented value, with Figure’s HELOC Token dominating the entire RWA sector at $20.1 billion in represented value. The pullback from the July 10 peak shows how quickly capital moves between treasury products, equities, and credit instruments as yields and demand shift week to week.

Source: https://news.bitcoin.com/tokenized-treasuries-cool-as-wall-street-giants-wage-a-35-billion-rwa-war/