The $XRP Ledger now accounts for more than 1.5% of all distributed tokenized real-world assets globally despite recent declines.
This is according to data from RWA.xyz, a leading analytics platform for the tokenized RWA market. For context, the XRPL boasts $408 million worth of distributed real-world assets (excluding stablecoins), accounting for a 1.53% market share of the global figure.
Key Points
- The $XRP Ledger is home to over $408 million worth of distributed real-world assets despite a 15.22% decline in value over 30 days.
- With this figure, the ledger accounts for 1.53% of the total global distributed RWA value.
- This makes the XRPL the eighth-largest network in the world in terms of distributed RWA value.
- There is $282 million worth of U.S. Treasury Debt on the network, as this asset class makes up the bulk of the $408 million total figure.
- The inclusion of stablecoins would push $XRP’s distributed RWA figure above $821 million.
$XRP Ledger Seeing RWA Growth Despite Recent Declines
Notably, the current figure confirms the impressive growth demonstrated by the XRPL in terms of tokenized real-world assets. For context, at the start of 2026, the distributed RWA figure stood at $337 million, after growing by over $320 million last year, 2025.
Since the beginning of this year, the network has continued to record additions. The total figure rose to a peak of $481.8 million in mid-February 2026, driven largely by Ondo’s Short-Term Government Bond Fund, which spiked from $40 million to $160 million within a day.
However, in late February, the Aberdeen Group pulled out its US Dollar Liquidity Fund worth $7.7 million, bringing the total to $474 million. By mid-March, the worth of OpenEden’s TBILL Vault dropped from $51 million to $41 million, further reducing the total figure.
Meanwhile, on March 16, data shows that the Montis Group Limited also pulled out its $55 million tokenized product. This reduced the total to $404 million. Interestingly, the TBILL Vault from OpenEden has since grown to $46 million, bringing the total to the current reading of $408 million. Despite the recent declines, the XRPL has added $71 million in distributed RWA value this year.
U.S. Treasury Debt Leading the Charge
Notably, U.S. Treasury Debt contributes the largest share to the XRPL’s distributed RWA value. These tokenized products account for $282 million worth of RWA value on the network. These U.S. Debt funds are provided by OpenEden, Ondo, and Guggenheim Treasury Services.
Specifically, Ondo boasts the largest single U.S. Treasury Debt product in the form of its Short-Term U.S. Government Bond Fund, currently worth $160 million on the XRPL. As for Guggenheim, the firm hosts $75 million in U.S. Treasuries on the XRPL. Meanwhile, OpenEden’s TBILL Vault has an XRPL-based worth of $46.2 million.
Besides the U.S. Treasury Debt products, Credit-based products, and Active Strategies also contribute to the $408 million. Specifically, the XRPL hosts $82 million worth of Corporate Credit and $23.9 million in Asset-Backed Credit. Meanwhile, including the $413.8 million worth of stablecoins brings the total distributed RWA value to $821 million.
