CoinGecko's RWA Report 2026 puts the total tokenized real-world asset market cap at $19.32 billion as of Q1 2026, a 256.7% surge over 15 months that now represents 6.4% of the entire stablecoin market. Tokenized Treasuries lead the pack with a 67.2% share after crossing the $10 billion mark in February.
Tokenized commodities are the standout growth story: the segment hit $5.55 billion, driven by gold tokens <a class="ticker-mention" href="/en-US/token/xaut">$XAUT</a> and <a class="ticker-mention" href="/en-US/token/paxg">$PAXG</a>, whose Q1 spot trading volume of $90.7 billion already eclipsed the full-year 2025 total. Tokenized equities, launched only mid-2025, have already accumulated $486 million in market cap.
The numbers signal that institutional appetite for on-chain exposure to traditional assets is accelerating well beyond early-adopter experimentation — and the pace of gold token volume in particular suggests deep, liquid demand that goes beyond passive holding.
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