Solana RWA Growth Surges Ahead of Ethereum in 2025

Tokenized real-world assets (RWAs) are booming, and Solana is now leading in growth pace with a 218% jump since January — more than double Ethereum’s rate.

Solana may still trail Ethereum in total RWA value, but it's gaining fast. According to RWAxyz, the value of tokenized RWAs on Solana surged from $173.8M to $553.8M this year, marking a 218% increase. In comparison, Ethereum’s RWA value climbed 81% year-to-date, growing from $4.3B to $7.7B.

Across the board, the tokenized RWA sector is heating up, with total on-chain value rising 196% since January, from $8.6B to $25.5B. Ethereum remains dominant with the largest market share, but Solana’s rapid momentum shows real competition.

Messari’s recent report confirms this trend, pointing to strong performance in yield-bearing RWAs on Solana, especially from Ondo Finance’s OUSG and USDY. These two assets alone represent 60% of Solana’s RWA market (excluding ONyc), with a combined valuation of $248M. Most RWAs across both networks are still stablecoins, but tokenized treasuries are starting to shine.