# Tokenized Real-World Assets Reach $38.8 Billion by Mid-September By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/30950 Published: 2026-10-13T08:51:02.000Z Updated: 2026-10-13T08:51:02.000Z Section: Investing > U.S. Treasuries and private credit made up most distributed on-chain value, while tokenized real estate remained below 1%. Distributed tokenized real-world assets (RWAs) reached about $38.8 billion by mid-September 2026, with U.S. Treasuries and private credit accounting for most of the on-chain market value. The figure covers assets represented by tokens that can move between eligible wallets. It differs from the approximately $365 billion in represented assets recorded in September, a broader measure that can include blockchain-based recordkeeping while transfers remain restricted to an issuing platform. U.S. Treasuries accounted for about $15.7 billion, or roughly 40% of distributed RWA value. Private credit followed at about $8 billion, or approximately 21%. Tokenized real estate remained a small segment at about $226 million, or less than 1% of the distributed market. Represented tokenized real-world assets exceeded $300 billion in the cited September presentation. A separate Sept. 15 snapshot measured distributed assets at $38.86 billion and listed approximately 4.24 million holders. U.S. government debt was above $15.9 billion in that reading. The difference between the $38.8 billion and $38.86 billion figures may reflect separate dashboard readings or rounding. Other categories included commodities at $4.9 billion, active strategies at $3.6 billion, asset-backed credit at $2.56 billion and tokenized equities at $2.52 billion. RWA value was distributed on Ethereum at about $17.3 billion in a Sept. 14 snapshot, followed by BNB Chain at $5.6 billion and Solana at $4.3 billion. Treasury products and private credit dominate the market, reflecting demand for yield-bearing assets with relatively straightforward pricing. Circle’s USYC represents shares in the Hashnote International Short Duration Fund, which invests in short-term U.S. government securities and reverse repurchase agreements. The September snapshots extend [TokenPost’s earlier coverage of tokenized real-world assets surpassing $34 billion](), while showing that Treasuries and private credit continued to account for most distributed value. ## Links in this article - [TokenPost’s earlier coverage of tokenized real-world assets surpassing $34 billion](https://www.tokenpost.com/news/investing/25808)