The tokenized real-world asset (RWA) market has surged to $24 billion in 2025, with private credit emerging as the dominant force behind this explosive growth, according to RedStone's latest industry report.

Private Credit Claims Majority Share

Accounting for 【58%】 of the total RWA market, tokenized private credit products now represent $14 billion in value. The sector offers investors yields between 【8%-12%】, significantly outperforming traditional public credit markets. Major financial institutions like Apollo Global Management have entered the space through vehicles such as their ACRED fund.

——"Tokenization solves private credit's historic liquidity challenges while preserving its yield advantages,"—— noted the report co-authored by Gauntlet and RWA.xyz. The technology enables fractional ownership and near-instant settlement for assets that typically require six-figure minimum investments.

Ethereum's Institutional Appeal

Despite growing competition, Ethereum maintains its position as the preferred blockchain for RWA tokenization, hosting 【59%】 of all tokenized assets. The network currently supports $7.5 billion across 335 products, benefiting from the Ethereum Foundation's Etherealize initiative to boost institutional adoption.

Challenger Networks Emerge

Solana has positioned itself as a strong alternative for tokenized Treasuries with $351 million in assets, while Aptos hosts $349 million including BlackRock's BUIDL fund. Avalanche and XRP Ledger have also gained traction, holding $188 million and $157 million respectively in tokenized RWAs.

The report highlights how blockchain's programmability creates new opportunities for traditional finance, with the overall RWA market growing 【380%】 since 2022. As of Wednesday, US Treasury products and private credit continue to drive most activity across both established and emerging blockchain platforms.

——Industry observers note the convergence of Wall Street and blockchain appears irreversible—— as major asset managers increasingly adopt tokenization to modernize legacy financial products. This shift comes despite ongoing regulatory uncertainty in key markets.