Solana Rises to Fourth Place in Real Asset Tokenization Race, Narrowing Gap with Aptos and ZKSync Era
According to the latest report from Messari, the total value of real-world assets (RWA) tokenized on the Solana blockchain has exceeded $418 million, growing by 140.6% since the beginning of 2025. This impressive growth helps Solana significantly narrow the gap with major RWA competitors, including Aptos, ZKSync Era, and Ethereum – which are currently leading the market with market shares of 4%, 17.2%, and 58.4% respectively.
As of Sunday, the RWA.xyz analysis platform noted that Solana currently holds 3.9% of the global RWA market share. Although still behind Ethereum, ZKSync Era, and just slightly behind Aptos, Solana has risen to fourth place in the list of top blockchains for tokenized real-world asset value.
Notably, Solana's RWA growth rate is twice that of the entire real-world asset tokenization market in 2025 – which only increased by 62.4% during the same period. The platform currently supports a diverse range of RWA projects, including tokenized stocks, US Treasury bonds, and institutional investment funds on the blockchain.
Matthew Nay, an analyst at Messari, notes that Solana's appeal comes from its "high-speed transaction processing, near-zero costs, and dynamic developer ecosystem." These are key factors that make this network a potential destination for RWA projects seeking efficiency and global scale expansion.
Currently, the two largest non-stablecoin RWA protocols on Solana are Ondo – through the U.S. Dollar Yield Fund, and ONe – with institutional fund products. In total, these two protocols are holding $277 million in tokenized assets on Solana, representing the majority of the ecosystem's RWA value.
According to CoinGecko data, Ondo's fund alone recorded a cross-chain trading volume of $2.7 million in just 24 hours. A portion of the fees from these transactions is redistributed to hosting blockchains like Solana.
From a revenue perspective, Token Terminal reports that Solana has generated approximately $3.9 million in the past 30 days. Compared to Ethereum – the leading RWA network – its revenue during the same period reached $15.9 million.
The total market capitalization of the real-world asset tokenization market has now exceeded $25 billion – marking an important milestone for a sector considered one of the most promising practical blockchain applications. In the past 30 days, the RWA market cap increased by 6.3%, and over 6 months, the growth reached 62.4%.
The strong development of real-world asset tokenization is attracting increasing interest from traditional financial institutions, thanks to instant payment capabilities, transparency, low costs, and global accessibility.
In the increasingly competitive blockchain landscape, Aptos – a layer-1 platform built by former Meta engineers – has seen an RWA value increase of 52.7% in just 30 days. Meanwhile, Solana grew by 14.6%, and Ethereum only saw a slight increase of 3.6% during the same period.
