Tokenized Assets Exceed $35B Onchain, Nearly Triple Since GENIUS Act
In brief
- Tokenized traditional assets exceeded $35 billion in total onchain value
- Market nearly tripled from $12 billion at GENIUS Act signing in July 2025
- US Treasury products dominate; gold and commodities account for $5-6 billion
- Onchain settlement in minutes improves capital efficiency versus traditional one-day settlement
- Clarity Act expected to vote mid-September 2026 on tokenized asset regulation
From Niche to Mainstream
The growth trajectory has been steep. In mid-2024, the entire non-stablecoin tokenized asset market sat below $3 billion. By mid-2026, it had grown more than tenfold. US Treasury products dominate the landscape, which makes sense given the size of the underlying market — US Treasuries alone have a market value north of $25 trillion.
The efficiency gains are real. Traditional Treasury settlement takes a day. Onchain settlement can happen in minutes. For institutions managing billions in short-duration fixed income, that difference translates directly into capital efficiency.
Commodities and Private Credit
Commodities, primarily gold, account for roughly $5 to $6 billion of the total. The appeal is straightforward: physical gold is expensive to store, insure, and transport. A tokenized representation solves that friction.
Private credit instruments have historically been illiquid and difficult to access for all but the largest allocators. Tokenization changes the equation. It introduces fractional ownership and secondary market trading, making the asset class accessible to a broader investor base.
Regulatory Backdrop
The GENIUS Act, signed in July 2025, didn't directly regulate tokenized real-world assets. It established a federal framework for payment stablecoins. That gap is being addressed by pending legislation. The Clarity Act, expected to face a vote around mid-September 2026, aims to provide regulatory precision for digital asset transactions and would address the tokenized assets themselves.
The speed of this market's maturation suggests blockchain infrastructure is moving from speculative experiment to operational backbone for traditional finance.
