What the numbers actually say.
Every quarter, a wave of "RWA is the future" content floods LinkedIn and crypto Twitter. Most of it recycles the same few statistics and projects them forward into trillion-dollar futures. Most of it is, at best, premature.
This brief is the opposite of that. Five numbers, drawn from primary sources, with the context required to understand what each one actually means. No projections to 2034. Just what the data says about where the market is right now and where the momentum is moving.
Watch the data, not the dreams."
The five numbers.
Source methodology.
All figures pulled from primary sources: CoinGecko RWA Report 2026, RWA.xyz, Chainalysis, The Block, Grayscale Research, InvestAx Q1 2026 market report, and individual issuer disclosures from BlackRock, Franklin Templeton, Ondo Finance, and others. Where sources differ, the brief notes the methodology variance.
Market capitalization figures exclude stablecoins unless otherwise noted, because including them creates an apples-to-oranges comparison ($300B+ stablecoin market versus $19-30B tokenized RWA market). The five numbers above are the most widely-cited figures across multiple independent sources.
This is a recurring brief.
The next quarterly Numbers brief will publish after Q2 2026 data is finalized in July, with updated figures, new sources, and revised interpretation. The RWA market is moving fast enough that quarterly cadence is the right pace for serious tracking. Subscribe to Tokenized Report to get each issue when it publishes.
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Tokenized Report publishes Sunday mornings. Three stories, one chart, one tactic. Built for people who don't have time for crypto Twitter.