rwa.xyz puts distributed RWA value at $39.19B, up 0.47% in 30 days. DefiLlama's active market cap reads $32.07B, down from $37.70B in August. Same universe, opposite directions: that is a methodology question, not money leaving. Meanwhile weekly DEX volume in tokenized stocks is 5.4 times its pre-Robinhood Chain average.
- Distributed asset value
- $39.19B
rwa.xyz, as of 12 Oct
+0.47% vs 30 days ago
- Active market cap
- $32.07B
DefiLlama, read 13 Oct
$37.70B on 4 Aug, same provider
- DeFi Active TVL
- $4.10B
DefiLlama, read 13 Oct
12.8% of active market cap
- Asset holders
- 5.21M
rwa.xyz, as of 12 Oct
+22.16% vs 30 days ago
The two big trackers no longer agree
In August, rwa.xyz and DefiLlama agreed within about 1% on the size of freely transferable tokenized assets. Today they point in opposite directions: rwa.xyz is up, DefiLlama is down 14.9% on its own August figure.
12–13 Oct 20264 Aug 2026
Show as table
| Item | 12–13 Oct 2026 | 4 Aug 2026 |
|---|---|---|
| rwa.xyz, distributed value | $39.19B | $37.29–37.45B |
| DefiLlama, active market cap | $32.07B | $37.70B |
When two trackers measuring the same universe move in opposite directions, the likely cause is coverage or methodology, not capital leaving. We have not confirmed which. Until then, quote each number with its provider and metric, never as one "RWA market size".
Tokenized stocks are where the trading is
Weekly DEX volume in tokenized stocks rose from a $627M average to $3.4B after Robinhood Chain launched on 1 July, according to Token Terminal data reported on 12 October.
Show as table
| Item | Value |
|---|---|
| Weekly average before 1 Jul | $627M |
| Weekly average after launch | $3.4B |
Source: Token Terminal data via TokenPost, 12 Oct 2026.
Volume is not liquidity. Higher volume does not tell you how much you can sell without moving the price.
Injective highlights its SEC transfer-agent registration
Injective's institutional arm is registered with the SEC as a transfer agent, which it highlighted again on 12 October. We could not confirm the original registration date, so we are not calling it new.
Deals and launches
- Securitize and LG CNS signed an MOU (6 Oct) to explore tokenized funds, equities and stablecoins for Korean institutions. An MOU is an intention, not a product. Securitize states about $5B in AUM as of September 2026; that is the issuer's own figure.
- Pendle's RWA markets passed $1B in TVL, reported on 12 October; TokenPost says Pendle launched 94 RWA markets this year. We have not checked Pendle's own dashboard yet, so treat it as medium confidence.
Derivatives are bigger than the thing they track
RedStone's research (published 7 Oct) puts open interest in equity perpetuals on decentralized venues at about $3.3B on 28 September. That is more than rwa.xyz's $3.16B valuation of tokenized stocks on that day. It suggests much of the on-chain exposure to stocks is synthetic, which matters for anyone explaining what "tokenized stock" means.