Tokenized markets reach $2.3B

The tokenized fund market has reached a record $2.3 billion in market capitalization, signaling a shift in institutional preference toward network utility over simple total value locked. While Ethereum remains the primary custody layer with $783.2 million in assets, Solana has emerged as the dominant venue for trading, processing 95%–97% of tokenized equity volume. This divergence highlights a growing trend where institutions separate custody functions from execution venues to prioritize settlement efficiency and low costs. Arbitrum currently leads in holder count with 12,500 wallets, followed by Solana with 8,200 and Sui with 6,000. These figures demonstrate that issuer reputation and distribution channels are becoming more critical than chain availability for attracting capital. The industry is moving away from passive liquidity metrics toward active measures like DEX volume and transaction activity. This evolution suggests that future blockchain competition will be defined by operational resilience and capital efficiency rather than just the volume of assets held on-chain.