Solana on-chain RWA surpasses $8.7 billion: US debt tokenization and stock tokens advance together

【ChainNews】The tokenized asset scale in the Solana ecosystem is accelerating. According to the latest data, the total on-chain RWA value has increased by nearly 10% in the past 30 days, just surpassing $873 million, hitting a new all-time high. Even more interestingly, the number of addresses holding these tokenized assets is also growing in tandem, with a net increase of over 18% in just one month, now exceeding 126,000.

This growth is mainly driven by two forces. On one hand, traditional finance is entering the space—led by US Treasury-related products, with Blackstone’s dollar institutional liquidity fund and Ondo’s dollar yield fund locking in $255 million and $176 million respectively, almost accounting for half of the RWA market. This indicates that institutional investors’ recognition of on-chain government bond tokenization is significantly increasing.

On the other hand, the new track of tokenized stocks is also beginning to emerge. Products like Tesla xStock and Nvidia xStock, although still small in scale at $48.3 million and $17.6 million respectively, are growing rapidly, representing Solana’s exploration of more diversified asset tokenization. This may suggest that more traditional assets could be tokenized and brought onto the chain in the future.