The Stellar (XLM) blockchain has taken first place globally in daily institutional capital inflows into investment funds, overtaking Ethereum. According to data from RWA.xyz and Token Terminal, net inflows into Stellar-based investment funds totaled $17.1 million over the past 24 hours, compared with $16.0 million for Ethereum and $5.9 million for Polygon.
The surge marks a fourfold expansion of Stellar’s RWA sector since the end of last year. The total value of real-world assets on the network has grown by 360%, reaching a record $3.5–4 billion.
As a result, Stellar has climbed to third place in the global blockchain ranking by assets under management (AUM), now trailing only Ethereum and BNB Chain.
How this market works and where the money is going
Capital inflows are being driven by major regulated funds that have distributed liquidity across three key jurisdictions:
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France: The network’s largest asset is the Spiko Amundi Overnight Swap Fund (EUR), a government bond fund with $1.29 billion in assets operating under the European Union’s UCITS framework.
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United States: Franklin Templeton’s BENJI government money market fund holds $521.1 million, while the Ondo U.S. Dollar Yield (USDY) fund has $537.1 million under SEC oversight.
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Luxembourg: The Yuleba Bond 2030 corporate credit instrument accounts for $500 million.
Circle’s USDC stablecoin, with $367.7 million, serves as the ecosystem’s settlement gateway. Compliant with Europe’s MiCA regulation, it maintains a record 707,248 active addresses for the RWA sector, with monthly transfer volume reaching $10.72 billion.
The network expects another boost in the first half of 2027. The U.S. securities depository DTCC has already confirmed plans to connect its tokenization service to Stellar to bring Russell 1000 stocks and major ETFs on-chain, while the Tradable platform is preparing to integrate up to $1 billion in private credit assets.
Why Stellar is attracting banks while XRP targets energy and industry
Stellar’s performance in the regulated fund segment highlights the technological divergence between the network and its historical competitor, the XRP Ledger (XRPL), which was also created with the involvement of Stellar co-founder Jed McCaleb.
The platforms have developed opposing specializations: while Stellar is accumulating traditional banking capital and government bonds, XRPL has taken a dominant position in the tokenization of commodities and industrial assets.
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Ripple’s ecosystem is now built around Justoken’s JMWH energy contracts, valued at $2.22 billion, and Latin American corporate debt pools from VERT Capital. Settlement activity across this industrial hub is supported by Ripple USD (RLUSD), a regulated stablecoin with a market capitalization of $1.16 billion.
Thus, the latest inflows have further cemented Stellar’s position as the leading public blockchain infrastructure for regulated investment products, dividing the global RWA market into debt and industrial sectors.
