#BernsteinResearch

RWA market hits $51B as tokenized private credits surges: Bernstein

The Real World Asset (RWA) market has expanded to $51 billion, a 42% increase this year, according to Bernstein Research. This growth is largely driven by tokenized private credit, which now constitutes approximately 44% of the total RWA value, reflecting increased adoption of blockchain infrastructure for lending. Figure Technology Solutions leads RWA platforms with $18 billion in tokenized assets, having tokenized $5 billion in consumer loans in 2026 and achieving $1.3 billion in monthly loan volume in April 2026. Institutional engagement is also evident with BlackRock's BUIDL tokenized money market fund exceeding $2.5 billion in assets. The market's expansion highlights blockchain's emerging role as a foundational layer for global capital markets, addressing investor demand for yield and business capital needs. US Treasury debt remains the second-largest RWA category at 30%, with commodities at 14%. Onchain RWA derivatives are also growing, with Hyperliquid reporting $2.6 billion in open interest in May and $65 billion in trading volumes in April 2026.

Cointelegraph — RWA Tokenization·Jun 20