Solana‘s RWA value has surpassed $4 billion, a new ATH for the network. The increase comes as the total supply of tokenized equities on Solana continues to grow.
This growth remains significant as what began as a negligible market in early 2024 has become a multibillion-dollar ecosystem spanning tokenized Treasuries, public equities, private credit, reinsurance, sovereign debt, commodities, liquidity funds, and stablecoin settlement infrastructure.
Tokenized equities are where Solana’s RWA growth is accelerating fastest. As of late July 2026, 97% of all onchain tokenized equities spot volume to date had settled on Solana. This reflects Solana’s increasing role as a leading venue for tokenized equity distribution and secondary activity.
RWA value doubles
One of the defining industry trends over the past year has been the growth of RWAs, with Solana sustaining its momentum. The recent increase of RWA value to $4 billion marks a nearly 100% increase from that seen at Q1 close. Solana non-stablecoin RWA value doubled, rising from $2.01 billion at the end of Q1 2026 to a current $4 billion.
Solana currently has 347,944 RWA holders according to rwa.xyz data. The network has become a significant venue for tokenized Treasury products, with several large global issuers already on it.
These include Circle’s USYC tokenized money market fund, one of the largest tokenized Treasury products worldwide, which launched on Solana in October 2025.
Others include BlackRock’s BUIDL, the USD Institutional Digital Liquidity Fund, which expanded to Solana in March 2025 through Securitize.
Ondo Finance runs two Treasury-linked products on Solana. USDY is a tokenized note backed by short-term U.S. Treasuries and bank demand deposits, and OUSG provides exposure to short-term U.S. government bonds and is backed significantly by BlackRock’s BUIDL fund.
VanEck’s VBILL, a short-term U.S. Treasury product, launched on Solana in May 2025 via Securitize. Franklin Templeton’s BENJI, the token of the Franklin OnChain U.S. Government Money Fund (FOBXX), the first U.S.-registered mutual fund to use a public blockchain as its system of record, launched on Solana in February 2025.
