Tokenized fund market cap sees one third outside Ethereum and BNB Chain

The total market capitalization of tokenized funds has reached approximately $34.7 billion, signaling a significant expansion in institutional adoption of blockchain-based financial products. While Ethereum remains the dominant platform with $17.7 billion in assets, representing 51.2% of the market, its share is increasingly challenged by a diverse multi-chain ecosystem. Significant capital is now flowing into alternative networks, with BNB Chain and zkSync Era holding $4.8 billion and $3.2 billion respectively. Notably, chains like Stellar, Solana, Avalanche, and Injective have collectively captured roughly $6.7 billion, reflecting a shift toward specialized infrastructure for asset issuance and settlement. This diversification is driven by institutional demand for lower transaction costs, high throughput, and customized, permissioned environments. Major asset managers such as BlackRock and Franklin Templeton are actively leveraging these varied networks to deploy live tokenized money market funds and government securities. The transition from pilot programs to live, multi-chain products underscores the maturation of the RWA sector as it moves beyond a single-chain dependency.