TL;DR:
Solana surpassed all blockchain networks in the number of wallets holding tokenized real-world assets (RWA). As of June 18, Solana recorded 285,971 wallets with RWA exposure, according to data from RWA.xyz, representing approximately 31% of the 924,469 holders distributed across 35 networks globally. Ethereum ranked second with 199,191 wallets, followed by BNB Chain with 101,902.
The growth rate is as significant as the absolute figure. The RWA user base on Solana grew 29.3% over the past 30 days. The network surpassed the threshold of 200,000 wallets only in late April, meaning it added nearly 85,000 new holders in under two months. This record was highlighted by the RWA Foundation, a sector association dedicated to promoting the adoption of tokenized assets.
Ethereum retains the lead in total distributed asset value, with $16.3 billion compared to $3 billion for Solana and $3.9 billion for BNB Chain. However, SOL is closing that gap at a faster pace: while its distributed value grew 14% in 30 days, Ethereum’s declined 4.7% over the same period.
Three factors explain its rapid expansion. The first is the arrival of institutional issuers. Securitize launched its STAC fund—a tokenized exposure to investment-grade collateralized loan obligations—on Solana. Ethena Labs committed $250 million to the fund, one of the largest allocations to tokenized structured credit on this network. Carlos Domingo, co-founder and CEO of Securitize, noted that tokenization reaches its greatest potential when it combines quality assets with the speed and accessibility of blockchain infrastructure.
The second factor is the pre-existing infrastructure. Platforms such as Ondo and Maple Finance already offered active secondary markets, reducing the complexity involved in entry for new issuers. The Solana Foundation reported that the network captured 97% of the on-chain tokenized equity spot trading volume in May.
The third element is stablecoins. The stablecoin ecosystem on SOL reached a market capitalization of $15.6 billion and 10.6 million holders. Western Union deployed its USDPT stablecoin on the network as a settlement layer for more than 150 million customers across over 200 countries. SoFi, a federally chartered bank in the United States, made its bank stablecoin available to its nearly 15 million members through its application.
Leadership in the number of holders does not guarantee permanence. The central question is whether those users will remain active once the initial wave of tokenized equity and credit launches loses momentum. Ethereum retains structural advantages: greater liquidity, institutional familiarity, and BlackRock’s BUIDL fund, valued at $2.4 billion. Solana appears to be consolidating its position as the preferred channel for smaller-scale RWA products with broader retail reach.
