XRP Ledger tops tokenized commodities on $2.2B inflows, mostly one Justoken fund
In brief
- XRP Ledger logged $2.2 billion in year-to-date tokenized commodities net inflows, per RWA Foundation citing Token Terminal.
- Ethereum ranked second at $1.6 billion; Avalanche third at $335.2 million.
- Justoken's JMWH fund, valued at $2.23 billion per RWA.xyz data, had 172 holders.
- XRP Ledger would rank fifth in the segment without Justoken.
How the ranking stacks up
The ranking measures distributed asset value in the commodities slice of the RWA tokenization market. On that metric, the XRP Ledger pulled in $2.2 billion in net inflows since the start of the year, according to RWA Foundation citing Token Terminal, as reported by U.Today.
Ethereum came second. Its year-to-date change was a positive $1.6 billion, and Avalanche rounded out the top three with $335.2 million in attracted capital (both figures from the same RWA Foundation dataset). BNB Chain, Solana and Coinbase together drew less than $100 million out of a total $4.2 billion yearly flow.
On paper, that's a wide lead. It doesn't look the same once you open up XRPL's number.
One fund, most of the total
U.Today, citing RWA.xyz data, said the main driver is the JMWH fund from the Justoken platform, valued at $2.23 billion. According to U.Today's report, the fund represents tokenized contracts on electricity generation in Latin America, structured under Argentine and UK law. The on-chain fund had 172 holders at the time of reporting.
The rest of XRPL's commodities book is small by comparison. It's mostly a retail collection of tokenized diamonds from Ctrl Alt, with the largest position estimated at $105 million, U.Today said.
Without Justoken, the XRP Ledger would be just 5th in the segment ranking.
The biggest RWA on the ledger
The Justoken contract isn't only the largest commodities position on XRPL. Per RWA.xyz data cited by U.Today, it's the largest real-world asset on the ledger overall, ahead of the Ripple USD (RLUSD) stablecoin at $896 million and Ondo Finance tokenized bonds at $185 million.
So XRPL's first-place finish in 2026 rests on a single energy fund with 172 holders.
Strip that fund out and the ledger drops to fifth.
Frequently asked questions
Why does the XRP Ledger lead tokenized commodities in 2026?
RWA Foundation data citing Token Terminal shows $2.2 billion in net inflows to XRPL's tokenized commodities since the start of the year. U.Today, citing RWA.xyz data, said the main driver is Justoken's JMWH fund, valued at $2.23 billion.
Where would XRPL rank without the Justoken fund?
Without Justoken, the XRP Ledger would rank fifth in the tokenized commodities segment, according to U.Today. The rest of its commodities holdings are mostly Ctrl Alt's retail collection of tokenized diamonds, with the largest position estimated at $105 million.
How do Ethereum and Avalanche compare in tokenized commodities?
Ethereum ranked second with a positive year-to-date change of $1.6 billion, and Avalanche ranked third with $335.2 million in attracted capital. BNB Chain, Solana and Coinbase together drew less than $100 million of a total $4.2 billion yearly flow.
